E.U. Evaluates Mittal Steel’s Takeover Bid

Law360, New York (April 10, 2006, 12:00 AM EDT) -- European Union regulators today announced they would consider Mittal Steel Co. NV’s hostile takeover bid for competitor Arcelor SA, and approve, reject or designate the deal for further review by May 19.

In an attempt to thwart Mittal's bid, Arcelor recently purchased Canadian steel company Dofasco Inc. and quickly transferred control of the company to Dutch foundation Strategic Steel Stichting.

The move, made under the assumption that Strategic Steel would not sell Dofasco for several years, was meant to bog Mittal down in antitrust issues. If...
To view the full article, register now.