Arcelor reaches deal with Severstal
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Arcelor SA, the steelmaker fighting a hostile bid from rival Mittal Steel Co., said Friday it reached a deal that would give it a controlling stake in Russia&#039;s largest steelmaker Severstal and &#36;1.59 billion in cash in exchange for 32 percent of Arcelor.
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Mittal Steel, the biggest steel producer in the world, announced that it had acquired at least 50 percent of Arcelor shares, the minimum amount Mittal has set for the takeover to go ahead.
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Mittal Steel , the world&#039;s  largest steel producer by volume, said on Tuesday that talks  with takeover target Arcelor  were continuing but the  likely result was uncertain.
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Mittal Steel unveils a 7% rise in second quarter profits, while those of newly acquired rival Arcelor dip 35%.
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Steel maker ArcelorMittal  aims to lift its self-sufficiency in iron ore to 90 percent by 2018 from 47 percent today and also wants to secure other commodities, an executive told French newspaper Les Echos.
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Stelco Inc. has received a takeover offer from Russian industry giant OAO Severstal at a time when Bay Street is awash in rumours about possible financing deals for the restructuring Hamilton steel maker.
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ArcelorMittal , the world&#39;s  largest steelmaker, said on Thursday it had received clearance  from U.S. competition authorities to sell its Sparrows Point  plant for an enterprise value of $1.35 billion.
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Mittal Steel has sweetened its proposal for a partnership with European group Arcelor and the two companies are now on the point of striking an agreement.
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Shareholders in steelmaker Arcelor   were meeting on Friday to vote on a possible merger  deal with Russia&#039;s Severstal , with a rejection  required to clear the way for an agreed &#36;32 billion takeover by  Mittal Steel .
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Looking to expand its presence among New York financial companies, security services vendor Perimeter eSecurity has acquired Secure Electronic Communications Compliance Archival System ( SECCAS ), a small seller of e-mail management products.
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The merger of Spanish toll road operator Abertis with Italian counterpart Autostrade is approved by EU regulators.
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Mittal Steel&#039;s chairman said on Wednesday  he was confident Arcelor investors would reject a tie-up with  Severstal, which was mulling its options after being spurned in  a takeover tussle.
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PARIS : European steelmaker Arcelor said net profit in the third quarter surged by more than sixfold and forecast a strong fourth quarter amid &#39;healthy&#39; growth in the global steel market, driven by Chinese demand.
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Mittal Steel  , which is  taking over rival steelmaker Arcelor , said on Tuesday  it might not have to buy out minority shareholdings in  Arcelor&#039;s two Brazilian subsidiaries, Acesita S.A. and Arcelor  Brasil S.A., as previously expected.
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Alcan Inc. has agreed to sell its ferroalloy division to a Spanish company for more than â¬100-million ($164.1-million). Montreal-based Alcan said yesterday it had agreed on terms
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German retail group Arcandor, formerly known as KarstadtQuelle, said Tuesday that it expected to be able to meet its earnings targets this year, denying market rumours of an imminent profit warning.
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Arcelor Mittal  said on Wednesday it will acquire Sicartsa, a Mexican intergraded steel producer, from Mexican steel maker Grupo Villacero for $1.439 billion.