Lakshmi Mittal Sweetens Hostile Takeover Bid of Arcelor

By Angsuman Chakraborty, Gaea News Network
Friday, May 19, 2006

Mittal Steel (MT.N) raised its offer by a third and dropped a key demand for family control over the combined global steel giant.

In a surprise move on Friday, just a day after the hostile bid was formally launched, Mittal boosted its total value by 6 billion euros to over 24 billion euros ($30.7 billion).

A source familiar with the matter however said Mittal had considered raising its offer for more than a week, as Arcelor’s share price traded at an increasing premium to its previous bid, implying Arcelor shareholders were unlikely to accept that offer.

Lakshmi Mittal, the world’s fifth-richest man according to Forbes magazine, had previously said he would raise his bid only if he got a recommendation from Arcelor’s board.

Mittal Steel said in a statement that it was now offering a choice between one new share and 11.10 euros in cash for each Arcelor share, 17 Mittal Steel shares for every 12 Arcelor shares, or 37.74 euros in cash for each Arcelor share.

If successful, Mittal Steel would become a global giant worth around $40 billion, employing 320,000 people and producing about 10 percent of the world’s steel.

via New York Times

I wish Lakshmi Mittal all the best.

Filed under: India, Life, Web

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Discussion

mahesh
May 24, 2008: 10:31 pm

sir,

my name is mahesh. i am working in uae.my slary is very poor.now i am in a trouble.in july my girl friends marriage is fixing.i want go india.and marry her.sir dont have money to buy air ticket.iwant go india and come back to uae.sir pls give me 75000/rs.after one year i will give back the money.dont avoid my request.i expecting u r reply.

regrads,

mahesh.


nishaan amin
January 5, 2008: 11:00 pm

Sir,
Jaishrikrishna, my name is nishaan amin, i was born in england. i am currently in year 11 studying.
I understand you have taken some control over the football club “Queens Park Rangers” and recently my cousin who lives in london has been offered a trial to play for your fabulous club. I was just wondering whether you think your club will be willing to offer me a trial? to atleast see what i am capable of.

I can bring something new to your under 16 team, and even more to your more older teams when i grow with age.

Look forward to your reply,

Yours Sincerely,
Nishaan Amin

Jaishrikrishna

November 18, 2007: 6:55 am

I am sure you understand that I am not Laxmi Mittal, nor associated with him in any way.

November 15, 2007: 10:34 pm

To,
Mr.LAKSHMI MITTAL
Chairman&CEO (MITTAL STEEL)

Respected Sir,
Last sunday i have read about you in news paper that you
are richest personality in world .
We would like to share u about our foundation the name of
THE OLD CARE FOUNDATION.
It is purely a Not to profit Project.We have been giving
the maximum halping hand to the old and deserving peoples
providing them free medical cloths food and all acording
to their requirement.We also arange free medical camps in
poor villiges.
Now we plan our dream project name OLD DREAM HOME for poor
deserving peoples sir we need FUNDS for purchase of land
for old care home and this all is not posible to do without
your fine support in fund raising ,Please participate for
those deserving peoples who need your support, we hope you
will participate to this NOBEL Cause.we care old citizens

Thanks Regards
Syed Habib ULLAH
General Secretary
(THE OLD CARE FOUNDATION)
Website


IIT-Kharagpur
October 29, 2007: 10:51 am

Dear sir,
We are students from the department of Geology and Geophysics of Indian Institute of Technology(IIT)-Kharagpur.We have a compulsory field trip in December 2007 for a period of 3 weeks.We badly need an amount of 75000/-(the approximate expenses for the entire trip).
Sir,kindly assist us as we are students and finding it difficult to arrange for the finance.
Waiting in anticipation
Regards
Students,3rd year,
Department of geology and geophysics
IIT-Kharagpur.

October 15, 2007: 1:33 am

I from turkey in kocaeli I am a worker I am twentyfive age friendship seek


Jagjit Singh
August 12, 2007: 8:32 pm

Dear Sir,
Greetingh from Malaysia.
I am a Malaysian of Indian origin.There is a lot of potential for investment in Malaysia in steel and banking sector.The real estate and construction sector is tremendously doing well.I wish to venture into all these with your help.I need urgent capital injection and I am also willing to be your proxy here in any projects.I can be contacted at 006012 3966605 at any time.My e-mail address is jsolikh@hotmail.com
My address in Malaysia is:
SUITE 04-02, 4 TH FLOOR,
WISMA TKS,,3 RD MILES JALAN IPOH,
51200 KUALA LUMPUR MALAYSIA
TEL : 00 603 4045 4020
fax : 00 603 4045 6020

Looking forward to hear from you soon .

Warmest Regards,

Jagjit Singh


kavisha shukla
July 25, 2007: 8:12 am

RESPECTED SIR
i am from poor family and i need the help of rs.5lacs please help me
addresss:-ahmedabad

June 24, 2007: 2:25 am

Respected Sir

I am k.rengaraj, and i was studied M.Sc. chemistry in st.joseph’s college (autonomous) trichy, tamilnadu, india.

now i am working only for daily wages, per month salary is $50 only

my family have very elder father and mother, with this amount i cannot run my family, i would like to start a new business like small business, that needed $40,000 only, with this i can remve my family poverty and i will run new bussiness and at the same time we can remove 5 family with that job.

so kindly allot the amount to me

i am very poor family

kindly reply favourable reply

my address
k.rengaraj
25, elango street
sangiliandapuram
tricuhirapalli - 620 001
tamilnadu
india


RADHA KRISHNAN
February 21, 2007: 11:06 am

sir,

I am Doing my MBA ii year .

1.What the strategy adopted by laxmi mittal in the takeover of Arcelor

September 21, 2006: 10:09 am

Dear Sir,
We are idol maker from Kumartuli, Kolkata, India. We make all type of religious idols, various models etc. Materials of our products are clay, paper pulp, fibre glass, thermocol, plaster of paris, cement etc. We are famous sculptors from Kolkata. We make idols of various gods and goddesses Like Durga, Lakshmi, Kali, Sarasawati, Ganesh, Buddha, Nataraj etc.
For business enquiry
Marketing Division :
Mr. Prodyut Paul
169 S.K.Deb. Road Patipukur, Kolkata-700048
Phone: (+91) 33-25212467
Mobile: (+91) 94-33403274
Email: prodyutpaul@yahoo.co.in
prodyutpaul@hotmail.com
prodyutpaul@gmail.com
Work Shop address : M/S Shilpa Bharati
GORA CHAND PAUL & SONS
1/1 Banamali Sarkar Street ,
Kumartuli Kolkata-700005
Phone- (+91) 33-25542053
Website : https://www.kumartuli.com/

Thanks
Prodyut Paul

July 21, 2006: 4:56 am

I think the Mittals should now acquire online companies like https://www.MetalBids.com in inorder to secure the supply and sales lines worldwide.

May 19, 2006: 10:23 am

I wouldn’t really term it as “Indian invasion” :)
Indian’s have been the most peaceful race in known history.
I too think the time has come for Indian’s to get some of the well deserved recognition in international arena.


Benjahmin
May 19, 2006: 8:37 am

I think Indian invasion of the world is unavoidable.

Soon the largest condom company will be owned by an Indian.

I wish Mittal and friends all the best.

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