Mittal Steel offer for Arcelor opens
Mittal Steel Co. has announced that its offer for Arcelor opened today in Luxembourg, France, and Belgium. It is expected to open in Spain and the U.S. shortly. The offer will be open for 30 business days (except in Spain and the U.S., closing on June 29, 2006 in all jurisdictions.
Commenting, Lakshmi N. Mittal, Mittal Steel chairman and CEO, said, "Since our offer was first announced the market has demonstrated that it likes the strategy of the deal through the considerable value created. We have always said that it is the shareholders who should decide on this transaction and we are pleased that now that the offer is open they will have ability to do so."
More information can be found here.