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COPYRIGHT 2006 Asia Pulse Pty Ltd
Arcelor shareholders approve merger with Mittal Steel
Luxembourg, June 30 (PTI) Paving the way for a merger between Arcelor and Mittal Steel, an overwhelming majority of shareholders of the Luxembourg-based firm today voted down a merger proposal from Russia's Severstal.
About 58 per cent of Arcelor shareholders voted against the Severstal offer.
In the process, they accepted Mittal Steel's 32.3 billion dollar offer, which was approved by the Board of Arcelor on June 25 after a five-month long battle.
Arcelor had recommended acceptance of share and cash from Mittal Steel valuing at...
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