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When billionaire financier Wilbur L. Ross purchased the assets of bankrupt steelmaker LTV Corp. in 2002, few--if any--predicted it would one day be sold to help create the world's largest steel company.
The unexpected happened Oct. 25.
International Steel Group Inc., the company born out of LTV's assets, merged with Rotterdam, Netherlands-based Ispat International NV to form a $30 billion titan with the potential to produce 70 million tons of steel a year. The new company, to be called Mittal Steel Co. NV after its owner, Lakshmi N. Mittal, will be based in the Netherlands, but its U.S. operations will remain in Richfield.
The deal was endorsed by …