Відповіді

• 2006.06.26 | samopal

  Arcelor wybiera Mittal Steel zamiast Rosjan (/)

  Arcelor utworzy największy koncern stalowy świata razem z Mittal Steel - zdecydowała rada dyrektorów koncernu z Luksemburga, rezygnując z planów utworzenia największej stalowni świata z rosyjskim Siewierstal.
  
  Luksemburski Arcelor utworzy największy koncern stalowy świata razem z hinduskim Mittal Steel - zdecydowała w niedzielę rada dyrektorów Arcelora, rezygnując tym samym z planów utworzenia największej stalowni świata z popieranym przez Kreml rosyjskim koncernem Siewierstal. Na fuzję z Mittal Steel muszą się jeszcze zgodzić akcjonariusze Arcelora. W jej wyniku powstanie koncern produkujący 100 mln ton stali rocznie - trzy razy więcej niż Nippon Steel, który będzie wówczas drugim producentem stali na świecie.
  
  ------------------------------------------------------------------------
  qub, AFP 25-06-2006 , ostatnia aktualizacja 25-06-2006 21:28
  http://gospodarka.gazeta.pl/gospodarka/1,33181,3441717.html
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  • 2006.06.26 | samopal

    Steel firm opts for Mittal offer (/)

    Directors at steel firm Arcelor have opted to back an offer to merge with Mittal Steel after marathon talks.
    
    Arcelor resisted the Mittal bid for months, considering a rival proposal from Russia's Severstal, but reportedly caved in when Mittal raised its offer.
    
    The decision, which was reached during a nine-hour meeting, will be put to a shareholder vote later this month.
    
    If approved, the move will merge the world's two largest steel companies, creating a powerful global giant.
    
    Vast enterprise
    
    Arcelor directors met for nine hours on Sunday to consider rival bids from Mittal, the world's biggest steel company, and Russian firm Severstal.
    
    Arcelor Chairman Joseph Kinsch told reporters in Luxembourg that Arcelor's board unanimously backed the Mittal offer.
    
    The proposed new company would be named Arcelor-Mittal, he said.
    
    The decision was made after Mittal raised its initial offer by 10%, he said, according to AFP.
    
    The planned merger would create a vast enterprise controlling 10% of the global steel market, with annual production more than three times the output of its nearest rival, Japan's Nippon Steel.
    
    The Arcelor bosses' decision will be crucial in influencing the company's shareholders, who meet later this month to decide the firm's future.
    
    Long row
    
    The decision follows a bitter, five-month boardroom battle which began in January when Mittal, the world's largest steel company, launched a take-over bid for Arcelor.
    
    Arcelor initially rejected the 25.8bn euros ($32.3bn) bid, arguing that it undervalued its assets and that the two businesses were not compatible.
    
    At one point Director Guy Dolle described the offer as having been made with "Monopoly money" and denigrated Mittal's products: "They make eau de Cologne, we make perfume."
    
    The long process reached its climax on Sunday, after several days of intense negotiations between Arcelor and both Mittal and Severstal, when directors met to decide between the competing offers.
    
    Sources close to the talks said Mittal raised its offer to 40.37 euros per Arcelor share from the previous 37.74 euros per share, although the details of the proposed deal have not yet been announced.
    
    Investor concerns
    
    Arcelor was previously thought to have leant towards a 13bn euros merger with Severstal.
    
    Arcelor headquarters in Luxemburg
    Arcelor resisted the takeover bid for five months
    But there was backing from some Arcelor shareholders for a deal with Mittal, which is headed by Indian-born billionaire Lakshmi Mittal.
    
    Arcelor had said a union with Severstal would create a more efficient and productive business than one created by a merger with Mittal.
    
    A merger with Severstal - controlled by Russian oligarch Alexei Mordashov - would have created a business with 40.6bn in sales, accounting for 6% of global steel production.
    
    However, some Arcelor shareholders had expressed concerns that Mr Mordashov could end up controlling the company.
    
    Mittal Steel's plans were initially criticised by governments in France, Belgium and Spain - where Arcelor has operations - due to fears of huge job losses resulting from the deal.
    
    However, political opposition to the deal has since waned.
    
    Mittal believes Europe's largest firms need to merge to make their operations more efficient and to compete with firms in the US and Asia.
    
    ARCELOR-MITTAL
    Would control 10% of world steel market
    Total sales of 55bn euros
    More than 320,000 employees
    ---------------------------------------------------------------------
    http://news.bbc.co.uk/2/hi/business/5114290.stm
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    • 2006.06.26 | samopal

      Arcelor agrees to Mittal takeover (/)

      LUXEMBOURG A new steel giant is to be created out of a bitter battle, after Arcelor formally agreed on Sunday to a €26.5 billion takeover by rival Mittal Steel.
      
      The deal combines Arcelor - a symbol of successful, pan-European cooperation and economic revival, with operations that span Luxembourg, Belgium, France and Spain - with a fast- growing conglomerate founded by the India-born Lakshmi Mittal, who built a fortune turning around sick steel plants in rapidly expanding markets from Trinidad to Kazakhstan.
      
      The deal, valued at $33.1 billion, is the latest sign that shareholder activism is marching through the once staid and sleepy boardrooms of Europe. The agreement to pair with Mittal caps a wrenching turnaround for Arcelor's management, which once dismissed Mittal as a "company of Indians" but were forced to backtrack after shareholders threatened to revolt.
      
      Politicians in Europe who once criticized Mittal have remained mum in recent days, and the merger brings hope that protectionist barriers against such deals may be eroding in Europe.
      
      Mittal is paying €40.37 a share for Arcelor, nearly double what the company was trading at when Mittal first made an offer in January. The new company will be named Arcelor-Mittal and will be headquartered in Luxembourg. Joseph Kinsch, chairman of Arcelor, will be chairman of the new company, and will be succeeded by Mittal when Kinsch retires next year.
      
      It was unclear what role Guy Dollé, Arcelor's chief executive, will have. Mittal will be president until Kinsch's departure.
      
      "It's been a long struggle," said Wilbur Ross Jr., a U.S. billionaire investor and Mittal board member. "Now that we have had an opportunity to be inside, with management, we believe there will be even more synergies than we thought."
      
      Kinsch, speaking in the courtyard of the Arcelor headquarters, said that the deal would create "global leadership in steel" not just by ton but by value.
      
      Getting to this point has involved a bruising fight for both sides. Mittal first made an unexpected €18.6 billion offer for Arcelor in January, and was swiftly and harshly rebuked by Arcelor management and a chorus of European politicians who criticized everything from his grammar to his Indian origins to the quality of his company's steel. Arcelor's bare-knuckled defense strategy included refusing to meet with Mittal until a string of demands were met, and simultaneously orchestrating a €13 billion deal with Severstal of Russia to keep him away.
      
      Arcelor's choice of Severstal as a white knight was problematic from the beginning. An unconventional vote on the deal, which was scheduled for Friday, was immediately criticized by shareholders. It allowed the deal to be approved unless the meeting was attended by an unprecedented number of Arcelor shareholders and they voted it down.
      
      After Arcelor executives and Severstal's chief executive, Aleksei Mordashov, appeared at a triumphant news conference to announce the deal, they were rarely seen together again. Instead, Mordashov embarked alone on a global tour to win Arcelor's investors to his side. He found shareholders were willing to listen to him, but angry with Arcelor's top executives, according to one of his advisers who spoke on the condition of anonymity.
      
      "They had managed to alienate everyone," the adviser said. Management had "taken their shareholders for granted."
      
      In fact, Arcelor's shareholders, including institutional investors and a growing number of hedge funds, were angry enough about the way the last- minute deal with Severstal was being pushed that they had started to talk about trying to oust Arcelor's management, and suing its board members.
      
      Such shareholder revolts have been successful in the past. Last year, for example, the chief executive of Deutsche Börse, Werner Siefert, was forced out after shareholders opposed his plans to buy the London Stock Exchange.
      
      Support eroded for Arcelor's plans behind the scenes, too. Representatives from the Luxembourg government, which is one of Arcelor's largest and most influential shareholders, spoke out strongly against the Mittal deal at first. Luxembourg regulators approved the Severstal deal, even though it had a few quirks. But as shareholder wrath grew over the Severstal agreement, the government began to privately question it. One representative claimed that Arcelor management had tried to "bully" the government into writing a takeover law that shut Mittal out.
      
      The real turning point, according to several people involved in the negotiations, came when Arcelor's board and management realized that a share buyback connected to the deal with Severstal might be voted down. The vote on the buyback, scheduled for last Wednesday, was canceled, in order to concentrate on negotiations with Mittal.
      
      "If the shareholders and if the regulators in charge are going to accept what was concluded today, then I think this will be a truly extraordinary situation for Luxembourg, to have by far the biggest steel maker here and to have its headquarters and decision-making center here," said Luxembourg's economy minister, Jeannot Krecké. "It's a great victory."
      
      On the other hand, Arcelor's foot- dragging has also wrung expensive concessions from Mittal. The agreed offer is nearly 40 percent higher than his initial offer in January, which was 27 percent higher than Arcelor's stock price at the time. Mittal also was expected to concede some management control and family voting rights.
      
      The sale price represents a hefty premium to Mittal's last offer of about €36 a share, and to Arcelor's last trading price of €35.02 a share.
      
      Arcelor board members unanimously approved the deal, after a nine-hour meeting at the company's palatial headquarters in Luxembourg. Many board members arrived in chauffeur- driven luxury cars, though Prince Guillaume of Luxembourg, who is also an Arcelor director, drove his own car, a blue Volkswagen Passat.
      
      It may be too early to rule Mordashov out completely. He still has a contractual deal with Arcelor, and the vote Friday on the Severstal deal will still be held. It will be unwound when shareholders tender their shares to Mittal. At the very least, Arcelor will be forced to pay €140 million in a breakup fee to Mordashov.
      
      "According to the law, Mr. Mordashov could always through Severstal make another offer," Krecké said. "That's not on the table for the moment."
      
      Mordashov was also in Luxembourg over the weekend, though he declined to disclose what he might do next. Krecké said he had met with Mordashov on Saturday, and executives from Mittal and Arcelor.
      
      "We have a legal, binding merger agreement that the board of Arcelor entered into," Mordashov said Sunday. That accord had been unanimously supported by Arcelor until now.
      
      "We are very surprised that the board did not invite us to discuss our revised proposal nor offer us an opportunity to respond as we had requested," Mordashov said in his statement.
      
      Mordashov said his company was reviewing all of its options.
      
      Business leaders have watched the Mittal-Arcelor deal closely as a bellwether for emerging-market businesses seeking to acquire their slower-growing Western counterparts. Once completed, analysts expect a surge of acquisitions attempts by multinationals rooted in the developing world.
      
      The situation also spotlighted changing standards of corporate governance in Europe, where boards and management are being forced to pay attention to a growing number of activist shareholders, after decades of running companies as they pleased. Ross, the Mittal board member, said the deal will "make a very powerful statement that no matter what the games, shenanigans and interventions at the end of the day if you're determined enough, the best price will prevail." He added, "That is a message that has not always been clear" in European deal-making.
      
      The merger is a milestone in the consolidation of the global steel industry, creating a behemoth with three times the capacity of its nearest rival, Nippon Steel, and 10 percent of global market share. With 320,000 employees and an estimated $70 billion in revenue, the combined company will be the first steel maker with more than 100 million tons of annual capacity - enough for twice as many automobiles as the world makes every year.
      
      Months of acrimony during the takeover battle has raised concerns that Arcelor and Mittal will have difficulty integrating their operations. "The differences of mentality, plus all the energy which has been put into the fight over the last several months, would make it very difficult for the current people to work together," said Patrick du Bois, a former executive vice president of Arcelor who left the company late in 2005, just before the Mittal bid was announced.
      
      "If I was on the current board," he added, "I would probably put new CEOs and managers in the new group, because otherwise you will still have remnant battles inside."
      
      Anand Giridharadas reported from Mumbai, India, and Heather Timmons of The New York Times reported from London.
      
      
      LUXEMBOURG A new steel giant is to be created out of a bitter battle, after Arcelor formally agreed on Sunday to a €26.5 billion takeover by rival Mittal Steel.
      
      The deal combines Arcelor - a symbol of successful, pan-European cooperation and economic revival, with operations that span Luxembourg, Belgium, France and Spain - with a fast- growing conglomerate founded by the India-born Lakshmi Mittal, who built a fortune turning around sick steel plants in rapidly expanding markets from Trinidad to Kazakhstan.
      
      The deal, valued at $33.1 billion, is the latest sign that shareholder activism is marching through the once staid and sleepy boardrooms of Europe. The agreement to pair with Mittal caps a wrenching turnaround for Arcelor's management, which once dismissed Mittal as a "company of Indians" but were forced to backtrack after shareholders threatened to revolt.
      
      Politicians in Europe who once criticized Mittal have remained mum in recent days, and the merger brings hope that protectionist barriers against such deals may be eroding in Europe.
      
      Mittal is paying €40.37 a share for Arcelor, nearly double what the company was trading at when Mittal first made an offer in January. The new company will be named Arcelor-Mittal and will be headquartered in Luxembourg. Joseph Kinsch, chairman of Arcelor, will be chairman of the new company, and will be succeeded by Mittal when Kinsch retires next year.
      
      It was unclear what role Guy Dollé, Arcelor's chief executive, will have. Mittal will be president until Kinsch's departure.
      
      "It's been a long struggle," said Wilbur Ross Jr., a U.S. billionaire investor and Mittal board member. "Now that we have had an opportunity to be inside, with management, we believe there will be even more synergies than we thought."
      
      Kinsch, speaking in the courtyard of the Arcelor headquarters, said that the deal would create "global leadership in steel" not just by ton but by value.
      
      Getting to this point has involved a bruising fight for both sides. Mittal first made an unexpected €18.6 billion offer for Arcelor in January, and was swiftly and harshly rebuked by Arcelor management and a chorus of European politicians who criticized everything from his grammar to his Indian origins to the quality of his company's steel. Arcelor's bare-knuckled defense strategy included refusing to meet with Mittal until a string of demands were met, and simultaneously orchestrating a €13 billion deal with Severstal of Russia to keep him away.
      
      Arcelor's choice of Severstal as a white knight was problematic from the beginning. An unconventional vote on the deal, which was scheduled for Friday, was immediately criticized by shareholders. It allowed the deal to be approved unless the meeting was attended by an unprecedented number of Arcelor shareholders and they voted it down.
      
      After Arcelor executives and Severstal's chief executive, Aleksei Mordashov, appeared at a triumphant news conference to announce the deal, they were rarely seen together again. Instead, Mordashov embarked alone on a global tour to win Arcelor's investors to his side. He found shareholders were willing to listen to him, but angry with Arcelor's top executives, according to one of his advisers who spoke on the condition of anonymity.
      
      "They had managed to alienate everyone," the adviser said. Management had "taken their shareholders for granted."
      
      In fact, Arcelor's shareholders, including institutional investors and a growing number of hedge funds, were angry enough about the way the last- minute deal with Severstal was being pushed that they had started to talk about trying to oust Arcelor's management, and suing its board members.
      
      Such shareholder revolts have been successful in the past. Last year, for example, the chief executive of Deutsche Börse, Werner Siefert, was forced out after shareholders opposed his plans to buy the London Stock Exchange.
      
      Support eroded for Arcelor's plans behind the scenes, too. Representatives from the Luxembourg government, which is one of Arcelor's largest and most influential shareholders, spoke out strongly against the Mittal deal at first. Luxembourg regulators approved the Severstal deal, even though it had a few quirks. But as shareholder wrath grew over the Severstal agreement, the government began to privately question it. One representative claimed that Arcelor management had tried to "bully" the government into writing a takeover law that shut Mittal out.
      
      The real turning point, according to several people involved in the negotiations, came when Arcelor's board and management realized that a share buyback connected to the deal with Severstal might be voted down. The vote on the buyback, scheduled for last Wednesday, was canceled, in order to concentrate on negotiations with Mittal.
      
      "If the shareholders and if the regulators in charge are going to accept what was concluded today, then I think this will be a truly extraordinary situation for Luxembourg, to have by far the biggest steel maker here and to have its headquarters and decision-making center here," said Luxembourg's economy minister, Jeannot Krecké. "It's a great victory."
      
      On the other hand, Arcelor's foot- dragging has also wrung expensive concessions from Mittal. The agreed offer is nearly 40 percent higher than his initial offer in January, which was 27 percent higher than Arcelor's stock price at the time. Mittal also was expected to concede some management control and family voting rights.
      
      The sale price represents a hefty premium to Mittal's last offer of about €36 a share, and to Arcelor's last trading price of €35.02 a share.
      
      Arcelor board members unanimously approved the deal, after a nine-hour meeting at the company's palatial headquarters in Luxembourg. Many board members arrived in chauffeur- driven luxury cars, though Prince Guillaume of Luxembourg, who is also an Arcelor director, drove his own car, a blue Volkswagen Passat.
      
      It may be too early to rule Mordashov out completely. He still has a contractual deal with Arcelor, and the vote Friday on the Severstal deal will still be held. It will be unwound when shareholders tender their shares to Mittal. At the very least, Arcelor will be forced to pay €140 million in a breakup fee to Mordashov.
      
      "According to the law, Mr. Mordashov could always through Severstal make another offer," Krecké said. "That's not on the table for the moment."
      
      Mordashov was also in Luxembourg over the weekend, though he declined to disclose what he might do next. Krecké said he had met with Mordashov on Saturday, and executives from Mittal and Arcelor.
      
      "We have a legal, binding merger agreement that the board of Arcelor entered into," Mordashov said Sunday. That accord had been unanimously supported by Arcelor until now.
      
      "We are very surprised that the board did not invite us to discuss our revised proposal nor offer us an opportunity to respond as we had requested," Mordashov said in his statement.
      
      Mordashov said his company was reviewing all of its options.
      
      Business leaders have watched the Mittal-Arcelor deal closely as a bellwether for emerging-market businesses seeking to acquire their slower-growing Western counterparts. Once completed, analysts expect a surge of acquisitions attempts by multinationals rooted in the developing world.
      
      The situation also spotlighted changing standards of corporate governance in Europe, where boards and management are being forced to pay attention to a growing number of activist shareholders, after decades of running companies as they pleased. Ross, the Mittal board member, said the deal will "make a very powerful statement that no matter what the games, shenanigans and interventions at the end of the day if you're determined enough, the best price will prevail." He added, "That is a message that has not always been clear" in European deal-making.
      
      The merger is a milestone in the consolidation of the global steel industry, creating a behemoth with three times the capacity of its nearest rival, Nippon Steel, and 10 percent of global market share. With 320,000 employees and an estimated $70 billion in revenue, the combined company will be the first steel maker with more than 100 million tons of annual capacity - enough for twice as many automobiles as the world makes every year.
      
      Months of acrimony during the takeover battle has raised concerns that Arcelor and Mittal will have difficulty integrating their operations. "The differences of mentality, plus all the energy which has been put into the fight over the last several months, would make it very difficult for the current people to work together," said Patrick du Bois, a former executive vice president of Arcelor who left the company late in 2005, just before the Mittal bid was announced.
      
      "If I was on the current board," he added, "I would probably put new CEOs and managers in the new group, because otherwise you will still have remnant battles inside."
      
      Anand Giridharadas reported from Mumbai, India, and Heather Timmons of The New York Times reported from London.
      
      
      LUXEMBOURG A new steel giant is to be created out of a bitter battle, after Arcelor formally agreed on Sunday to a €26.5 billion takeover by rival Mittal Steel.
      
      The deal combines Arcelor - a symbol of successful, pan-European cooperation and economic revival, with operations that span Luxembourg, Belgium, France and Spain - with a fast- growing conglomerate founded by the India-born Lakshmi Mittal, who built a fortune turning around sick steel plants in rapidly expanding markets from Trinidad to Kazakhstan.
      
      The deal, valued at $33.1 billion, is the latest sign that shareholder activism is marching through the once staid and sleepy boardrooms of Europe. The agreement to pair with Mittal caps a wrenching turnaround for Arcelor's management, which once dismissed Mittal as a "company of Indians" but were forced to backtrack after shareholders threatened to revolt.
      
      Politicians in Europe who once criticized Mittal have remained mum in recent days, and the merger brings hope that protectionist barriers against such deals may be eroding in Europe.
      
      Mittal is paying €40.37 a share for Arcelor, nearly double what the company was trading at when Mittal first made an offer in January. The new company will be named Arcelor-Mittal and will be headquartered in Luxembourg. Joseph Kinsch, chairman of Arcelor, will be chairman of the new company, and will be succeeded by Mittal when Kinsch retires next year.
      
      It was unclear what role Guy Dollé, Arcelor's chief executive, will have. Mittal will be president until Kinsch's departure.
      
      "It's been a long struggle," said Wilbur Ross Jr., a U.S. billionaire investor and Mittal board member. "Now that we have had an opportunity to be inside, with management, we believe there will be even more synergies than we thought."
      
      Kinsch, speaking in the courtyard of the Arcelor headquarters, said that the deal would create "global leadership in steel" not just by ton but by value.
      
      Getting to this point has involved a bruising fight for both sides. Mittal first made an unexpected €18.6 billion offer for Arcelor in January, and was swiftly and harshly rebuked by Arcelor management and a chorus of European politicians who criticized everything from his grammar to his Indian origins to the quality of his company's steel. Arcelor's bare-knuckled defense strategy included refusing to meet with Mittal until a string of demands were met, and simultaneously orchestrating a €13 billion deal with Severstal of Russia to keep him away.
      
      Arcelor's choice of Severstal as a white knight was problematic from the beginning. An unconventional vote on the deal, which was scheduled for Friday, was immediately criticized by shareholders. It allowed the deal to be approved unless the meeting was attended by an unprecedented number of Arcelor shareholders and they voted it down.
      
      After Arcelor executives and Severstal's chief executive, Aleksei Mordashov, appeared at a triumphant news conference to announce the deal, they were rarely seen together again. Instead, Mordashov embarked alone on a global tour to win Arcelor's investors to his side. He found shareholders were willing to listen to him, but angry with Arcelor's top executives, according to one of his advisers who spoke on the condition of anonymity.
      
      "They had managed to alienate everyone," the adviser said. Management had "taken their shareholders for granted."
      
      In fact, Arcelor's shareholders, including institutional investors and a growing number of hedge funds, were angry enough about the way the last- minute deal with Severstal was being pushed that they had started to talk about trying to oust Arcelor's management, and suing its board members.
      
      Such shareholder revolts have been successful in the past. Last year, for example, the chief executive of Deutsche Börse, Werner Siefert, was forced out after shareholders opposed his plans to buy the London Stock Exchange.
      
      Support eroded for Arcelor's plans behind the scenes, too. Representatives from the Luxembourg government, which is one of Arcelor's largest and most influential shareholders, spoke out strongly against the Mittal deal at first. Luxembourg regulators approved the Severstal deal, even though it had a few quirks. But as shareholder wrath grew over the Severstal agreement, the government began to privately question it. One representative claimed that Arcelor management had tried to "bully" the government into writing a takeover law that shut Mittal out.
      
      The real turning point, according to several people involved in the negotiations, came when Arcelor's board and management realized that a share buyback connected to the deal with Severstal might be voted down. The vote on the buyback, scheduled for last Wednesday, was canceled, in order to concentrate on negotiations with Mittal.
      
      "If the shareholders and if the regulators in charge are going to accept what was concluded today, then I think this will be a truly extraordinary situation for Luxembourg, to have by far the biggest steel maker here and to have its headquarters and decision-making center here," said Luxembourg's economy minister, Jeannot Krecké. "It's a great victory."
      
      On the other hand, Arcelor's foot- dragging has also wrung expensive concessions from Mittal. The agreed offer is nearly 40 percent higher than his initial offer in January, which was 27 percent higher than Arcelor's stock price at the time. Mittal also was expected to concede some management control and family voting rights.
      
      The sale price represents a hefty premium to Mittal's last offer of about €36 a share, and to Arcelor's last trading price of €35.02 a share.
      
      Arcelor board members unanimously approved the deal, after a nine-hour meeting at the company's palatial headquarters in Luxembourg. Many board members arrived in chauffeur- driven luxury cars, though Prince Guillaume of Luxembourg, who is also an Arcelor director, drove his own car, a blue Volkswagen Passat.
      
      It may be too early to rule Mordashov out completely. He still has a contractual deal with Arcelor, and the vote Friday on the Severstal deal will still be held. It will be unwound when shareholders tender their shares to Mittal. At the very least, Arcelor will be forced to pay €140 million in a breakup fee to Mordashov.
      
      "According to the law, Mr. Mordashov could always through Severstal make another offer," Krecké said. "That's not on the table for the moment."
      
      Mordashov was also in Luxembourg over the weekend, though he declined to disclose what he might do next. Krecké said he had met with Mordashov on Saturday, and executives from Mittal and Arcelor.
      
      "We have a legal, binding merger agreement that the board of Arcelor entered into," Mordashov said Sunday. That accord had been unanimously supported by Arcelor until now.
      
      "We are very surprised that the board did not invite us to discuss our revised proposal nor offer us an opportunity to respond as we had requested," Mordashov said in his statement.
      
      Mordashov said his company was reviewing all of its options.
      
      Business leaders have watched the Mittal-Arcelor deal closely as a bellwether for emerging-market businesses seeking to acquire their slower-growing Western counterparts. Once completed, analysts expect a surge of acquisitions attempts by multinationals rooted in the developing world.
      
      The situation also spotlighted changing standards of corporate governance in Europe, where boards and management are being forced to pay attention to a growing number of activist shareholders, after decades of running companies as they pleased. Ross, the Mittal board member, said the deal will "make a very powerful statement that no matter what the games, shenanigans and interventions at the end of the day if you're determined enough, the best price will prevail." He added, "That is a message that has not always been clear" in European deal-making.
      
      The merger is a milestone in the consolidation of the global steel industry, creating a behemoth with three times the capacity of its nearest rival, Nippon Steel, and 10 percent of global market share. With 320,000 employees and an estimated $70 billion in revenue, the combined company will be the first steel maker with more than 100 million tons of annual capacity - enough for twice as many automobiles as the world makes every year.
      
      Months of acrimony during the takeover battle has raised concerns that Arcelor and Mittal will have difficulty integrating their operations. "The differences of mentality, plus all the energy which has been put into the fight over the last several months, would make it very difficult for the current people to work together," said Patrick du Bois, a former executive vice president of Arcelor who left the company late in 2005, just before the Mittal bid was announced.
      
      "If I was on the current board," he added, "I would probably put new CEOs and managers in the new group, because otherwise you will still have remnant battles inside."
      
      Anand Giridharadas reported from Mumbai, India, and Heather Timmons of The New York Times reported from London.
      ----------------------------------------------------------------------
      http://www.iht.com/articles/2006/06/25/business/steel.php-
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      • 2006.06.26 | samopal

        Mittal Steel napotřetí ulovil Arcelor, vznikne ocelový obr (/)

        Ocelářský gigant Mittal Steel přesvědčil po dlouhém boji ke spojení skupinu západoevropskou skupinu Arcelor. Vznikne světový lídr s produkcí třikrát větší než dvojka v oboru.
        
        Arcelor odolával vábení koncernu vedeného Lakshmi Mittalem pět měsíců. Odmítlo dvě nabídky "k sňatku z rozumu" a přijalo teprve tu třetí, podle zdrojů upravenou podle jeho přání.
        
        "Zaplatili jsme férovou cenu za něco, co je dobrým byznysem," uvedla k hodnotě transakce firma Mittal.
        
        Spojením vznikne globální hutní gigant s produkcí přes 100 milionů tun oceli ročně, třikrát větší než jeho nejbližší konkurent, japonský Nippon.
        
        Cena za akcii Arceloru se v nové nabídce dostala těsně nad hranici 40 eur proti dosavadní nabídce přes 35 eur. Celková hodnota nabídky podle posledních tržních cen tak dosahuje 25,8 miliardy eur, uvedly zdroje.
        
        Obě firmy by měly v pondělí uspořádat společnou tiskovou konferenci.
        
        Bitva mezi oběma firmami zuřila od konce ledna, kdy Mittal oznámil plán koupit Arcelor. Arcelor se proti Mittalu chtěl spojit s ruskou společností Severstal a dnešní zasedání správní rady mělo rozhodnout, které alternativě dá firma přednost.
        
        Podle zdrojů agentur správní rada hlasovala jednomyslně pro to, aby byla nová nabídka Mittalu doporučena akcionářům k přijetí.
        
        Nová nabídka je 15 procent nad poslední tržní cenou Arceloru a 45 procent nad hodnotou původní nabídky z počátku roku, kterou pak Mittal už jednou zvýšil. Nyní budou rozhodovat akcionáři Arceloru, od nichž se čeká, že nabídnou k prodeji své akcie do termínu 5. července.
        
        Mittal vlastní po celém světě velký počet hutí provozů a v České republice má největšího českého výrobce oceli Mittal Steel Ostrava.
        
        "Dopad spojení Mittal Steel a Arceloru je plně v rukou majitele, ale nepředpokládáme, že bude negativní," řekla mluvčí ostravské firmy Jana Dronská.
        
        Připomněla, že případný prodej ostravské huti kvůli naplnění podmínek EU už dříve Mittal Steel vyloučila a sdělila, že antimonopolní požadavky Evropské unie chce uspokojit prodejem menší polské ocelárny.
        ----------------------------------------------------------------------
        http://ekonomika.idnes.cz/mittal-steel-napotreti-ulovil-arcelor-vznikne-ocelovy-obr-po3-/ekoakcie.asp?c=A060625_195930_ekoakcie_klu
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        • 2006.06.26 | Mariposa

          Re: Mittal Steel napotřetí ulovil Arcelor, vznikne ocelový obr (/)

          Не знаю, що тепер буде з інвестиціями у Криворіжсталь, але в будь-якому випадку рішення буде остаточним лише після того, як його затвердять загальні збори акціонерів, покищо - це лише рекомендації. Хоча якраз акціонери наполягали на ще одному розгляді обох пропозицій.
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          • 2006.06.28 | samopal

            А що там може статися з інвестиціями?

            Фонд Держимайна захотів підтримати "альтернативних" інвесторів?
            Шоб не лізли усякі "чужі". Котрі "бєз панятія"? Он і Путін не задоволений. І Японці почали хвилюватися. Мабуть бояться, що іхній Nuppon Steel теж дістанеться Мітталові. І японцям загрожуватиме "тяжка доля" вітчизняних сталеварів, відданих на поталу якомусь "нєрускаму".

          • 2006.06.28 | samopal

            Rosjanie nie pogodzeni ze stratą Arcelora (/)

            Rosjanie nie kryją rozczarowania i zastanawiają się nad reakcją w związku z fuzją dwóch koncernów stalowych Mittal Steel i Arcelor, ponieważ sądzą, iż zarząd Arcelora powinien był przyjąć konkurencyjną ofertę Siewierstalu, ku której się skłaniał przez kilka miesięcy - pisze we wtorek brytyjska prasa.
            
            Według "Timesa" powołującego się na źródła w Moskwie, prezydent Władimir Putin w odwecie za utrącenie ambicji Siewierstalu na Zachodzie, ograniczy dostęp zachodniego kapitału do rynku rosyjskiego. Ma ku temu dobrą okazję, ponieważ Duma właśnie rozważa ustawę o strategicznych sektorach gospodarki zamkniętych dla cudzoziemców.
            
            Fuzję Mittal Steel z Arcelorem wartości 24,6 mld euro ogłoszono w niedzielę w Luksemburgu. Jej wynikiem będzie utworzenie największego koncernu stalowego świata z produkcją sięgającą 100 mln ton stali rocznie. W nowej grupie Mittal będzie miał 51 proc. udziałów, z czego jej właściciel Lakshmi Mittal - 46 proc.
            
            Jednak połączenie Arcelora z Siewerstalem wciąż może dojść do skutku wbrew stanowisku zarządu. Może się tak stać, jeśli na NWZA w piątek udziałowcy dysponujący ponad 50 proc. ogółu wyemitowanych akcji poprą takie rozwiązanie. Wówczas w połączonej grupie Siewierstal będzie dysponował 25 proc. udziałów. W przeciwnym razie otrzyma 140 mln euro odszkodowania.
            
            W ocenie "The Independent", Rosjanie noszą się z zamiarem wystąpienia na drogę sądową przeciwko Arcelorowi oskarżając go o złamanie umowy. Mówi się też o możliwej kontrofercie, którą Siewierstal złożyłby wspólnie z Romanem Abramowiczem. Abramowicz w ubiegłym tygodniu za 3 mld dolarów przejął 41 proc. udziałów w największym rosyjskim koncernie stalowym Evraz.
            
            "W Rosji odrzucenie oferty Siewierstalu skłoniło niektórych polityków do stwierdzenia, iż rosyjskie firmy są dyskryminowane na Zachodzie" - napisał "The Independent" wskazując na wypowiedź ministra energii Wiktora Christenki. Rosjanie są, według gazety, rozżaleni, ponieważ mają poczucie, iż Arcelor posłużył się nimi w charakterze przynęty dla wymuszenia na Mittal Steel podniesienia pierwotnej oferty o 40 proc.
            
            "The Times" pisze o zaniepokojeniu Japończyków, którzy obawiają się, iż wiecznie nienasycony stalowy kolos Lakshmi Mittala obecnie skieruje swą uwagę na japoński koncern Nippon Steel, który teraz może nie wybronić się przed przejęciem.
            ----------------------------------------------------------------------
            Росія вирішила підключити до вирішення цього питання "сімейні фонди", котрими опікується найбагатший чукотський футболіст з дивним для цих суворих країв ім'ям. Ви це мали на увазі?
            Тіпа, ні дадім Ивропу в абіду...

• 2006.06.28 | samopal

  А тим часом....

  Американська компанія Phelps Dodge об'єдналася з канадськими Inco i Falconbridge. Таким чином утворюється найбільший у світі виробник нікелю та найбільший (з представлених на фондовому ринку) виробник міді. Загальна вартість нового консорціуму перевищуватиме 56 мільярдів доларів. І щось "ета бізабразіє" у нас нікого не хвилює...
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  • 2006.06.28 | Mariposa

    Re: А тим часом....

    Треба запропонувати завести американський форум, може комусь і це буде цікаво - наприклад Пінчуку.
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    • 2006.06.28 | samopal

      Re: А тим часом....

      А Сєвєрсталь з Абрамовичем то Європа? Чи Міттал?
      Чого ж Криворіжсталь не продали "Арселору"...
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      • 2006.06.28 | Mariposa

        Re: А тим часом....

        Арселор - це топ тема європейська. Вже три місяці, якщо не більше. Ще сніг стояв, як Міттал пресуху скликав. і потім почалась така заворуха... І не тільки європейська - Блумберг вже так розказує, так розказує... Не віриш - подивись!
        Чого Криворіжсталь не продали Арселору? А йому вона треба? Їм вже кілька років Міттал з Сєвєрсталлю спокою не давали.
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        • 2006.06.28 | samopal

          Re: А тим часом....

          Дарагой чітатєль. "Блумберг" - серйозна контора, але не єдина на світі.
          
          Міттал офіційно "морочить голову" "Арселору" трохи менше, ніж шість місяців.
          "Арселор" був у попередньому списку претендентів на "Криворіжсталь", але з'їхав (можливо, через Міттала). Велика Орда зайнялась експансією на ринку металургії лише після того, як трохи нагребла дєнєг (але, як видно із підключення до процесу Абрамовича, не настільки багато, щоб тягатися з Мітталом). Тобто, про серйозну експансію зачухались лише тепер. Якби вони доперли раніше, то "Криворіжсталь" уже давно була б в "надьожних волосатих руках". Мало того, що вони давно планували загребти все під себе, так ще й сподівалися зробити це "на халяву", - па-брацкі, тоість. Аж тут на падкантрольную тіріторію якась стєрва завєла беспрєдєльщіка. Навіть у развєдчіка гєнєрал-братана Путіна нерви не витримали, - прагаварілся, шо каму-каму, а етаму індусу он свой газ проста-так ні атдаст.
          А взагалі, "Арселор" - така ж "европейська" контора, як "Міттал" - "індійська". Згоду на їх злиття повинні були дати і Штати, і Канада, і Бог зна хто ще. От ще Велику Орду забули спитати. Тепер бач, як ковбаситься...

• 2006.07.01 | samopal

  Люксембурзьке «В сад!..»

  Акціонери зареєстрованого у Люксембурзі металургійного гіганта Arcelor відхилили у п’ятницю 30 червня інвестиційні пропозиції російського концерну “Сєвєрсталь”. Це рішення відкриває шлях до об’єднання двох найбільших світових виробників сталі: Mittal Steel та Arcelor. За нього проголосували власники 57,9 відсотка акцій.