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COPYRIGHT 2006 Voxant, Inc.
Original Source: CNBC/DOW JONES BUSINESS VIDEO
ROSS WESTGATE, CNBC ANCHOR: Now one of the other stories, of course, we have been following a long time, European steel-maker Arcelor is claiming that its merger deal with Russia`s Severstal is not aimed at blocking a hostile takeover bid from rival Mittal Steel. Let`s find out. We are joined by Roeland Baan, CEO of Mittal Steel Europe.
Mr. Baan, thanks for joining us. So what do you think?
ROELAND BAAN, CEO, MITTAL STEEL EUROPE: You are welcome.
WESTGATE: Do you think you are going to win control over Arcelor?
BAAN: Well, it is very obvious that the Severstal combination which is now being proposed by Arcelor is, in all its aspects, inferior to the Mittal Steel offer. And due to this absolute recognizable second-classness of the Severstal deal, we are still convinced that the shareholders will opt for the Mittal offer....
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