Posted in | News | Ferrous Alloys and Metals | Business | Iron and Steel

EU Approves Mittal Steel, Arcelor Merger

Jun 5 2006

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Mittal Steel has announced today that the European Commission has cleared Mittal's bid to acquire Arcelor subject to certain commitments. The granting of EU antitrust clearance is a further positive and important step towards the successful completion of Mittal's bid.

In order to secure clearance during the Commission's Phase I investigation, Mittal Steel agreed to address concerns in the relatively small area of heavy sections through the divestiture of three steel plants, two belonging to Arcelor and one belonging to Mittal. Mittal Steel believes that the divestitures will have no adverse effect on Mittal's or Arcelor's operations, in light of the combination.

http://www.mittalsteel.com

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