E.C. OKs Mittal’s €13B Arcelor Takeover

Law360, New York (June 2, 2006, 12:00 AM EDT) -- Three weeks after Mittal Steel Co. NV said the U.S. Department of Justice had cleared its proposed $26.6 billion hostile takeover of Luxembourg-based rival Arcelor SA, the world's largest steel maker has received conditional permission for the deal from the European Commission.

The Commission said an antitrust investigation found that the proposed transaction would not significantly impede competition in European markets for most steel products, except for heavy section beams, a specific type of long carbon steel product.

But Mittal has offered remedies to address those...
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