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ArcelorMittal $1.35B Steel Mill Sale Killed

Law360 (December 17, 2007, 12:00 AM EST) -- ArcelorMittal's planned $1.35 billion sale of a steel mill, which was meant to resolve competition concerns after a merger, was killed on Monday after the company and E2 Acquisition Corp. failed to resolve lingering issues and missed a self-imposed deadline for sealing the deal.

ArcelorMittal, the product of a merger of Mittal Steel Co. and Arcelor SA, killed the sale of its Sparrows Point plant. The company agreed to sell the Sparrows Point mill in Baltimore, which employs about 2,500 workers, earlier this year in order...
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