Arcelor, Luxembourg's largest steel company, has reached in an agreement with Mittal Steel over a € 27.5 billion merger . The new company will be called Arcelor Mittal. Mittal Steel will hold 45\% stake in the new company. Arcelor would pay Severstal €130 million as a "fine" for the fall-out of their failed talks. Lakshmi Mittal (owner of Mittal Steel) and Joseph Kinsch (current Arcelor chairman) will be the co-chairmen of the new company.  References Arcelor agrees to Mittal merger on International Herald Tribune Arcelor, Mittal decide to merge: Reports on Rediff  .com
Arcelor, Luxembourg's largest steel company, has reached in an agreement with Mittal Steel over a € 26.9 billion merger (at €40.44 per share) . The new company will be called Arcelor Mittal. Mittal Steel will hold 45\% stake in the new company. Arcelor would pay Severstal €130 million as a "fine" for the fall-out of their failed talks. Lakshmi Mittal (owner of Mittal Steel) and Joseph Kinsch (current Arcelor chairman) will be the co-chairmen of the new company. The new company will have a net capacity of 120 million tonnes. References Arcelor agrees to Mittal merger on International Herald Tribune Arcelor, Mittal decide to merge: Reports on Rediff .com Arcelor-Mittal facts on TheStar .com
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27.5 billion merger
26.9 billion merger (at €40.44 per share)
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The new company will have a net capacity of 120 million tonnes.
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