Mittal Steel announces ISG, Ispat Inland merger
Mittal Steel Company N.V. (Mittal Steel) has announced that its wholly owned U.S. operating subsidiaries, Mittal Steel USA ISG Inc. (ISG) and Ispat Inland Inc. (Inland) will merge.
Under the proposed transaction, Inland will be merged with and into ISG, with ISG being the surviving corporation of the merger. The merger is subject to customary regulatory and third-party approvals.
Following the consummation of the merger, ISG will be renamed Mittal Steel USA Inc. The merger is a step in Mittal Steel's ongoing U.S. integration plan, following the company's acquisition of ISG on April 15, 2005, and is expected to close near the end of 2005 or early in 2006.