Archive for June 19th, 2006
Arcelor, Severstal and Mittal, the battle rages on
The board of Arcelor, the pan-European steel group fighting off a hostile €22bn (£15bn) bid from its rival Mittal, is increasingly reconciled to losing a key element of its defence strategy at the hands of shareholders this week and is desperately searching for alternatives.Arcelor investors, who are angry at the terms of the proposed merger [...]
Posted: June 19th, 2006 under Steel International.
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Abramovich to buy 41% stake in Evraz Steel
Roman Abramovich, Russia’s richest man, is set to play a major role in reshaping the country’s steel sector after agreeing to buy a 41% stake in Evraz Group, Russia’s largest steel maker by volume.
Millhouse LLC, Abramovich’s investment vehicle, said on Monday it would pay a market price for the stake in Evraz in a deal [...]
Posted: June 19th, 2006 under Steel International.
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