Mittal creates new steel giant
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Billionaire from the UK Lakshmi Mittal on Monday purchased International Steel Group from Wilbur Ross, thus creating the worldâs biggest steel company.
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Mittal Steel, the new company to be formed by a merger of British billionaire Lakshmi Mittal&#39;s considerable steel holdings with the International Steel Group, will ship about 57 million tons
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Mittal Steel   said on  Monday that it owned 93.7 percent of the share capital of  Arcelor , as it moved toward creating the world's  biggest steel maker.
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The $17.8 billion, three-way deal that Lakshmi N. Mittal, a financier based in London, announced this week would put him at the head of the largest steel company in the world.
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LNM Group, the steel giant headed by Indian tycoon Lakshmi Mittal, snaps up a Bosnian steelmaker in a $280m deal.
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London: NRI business tycoon Lakshmi N Mittal, who is set to control the world&#39;s largest steelmaker, has emerged as the richest man in Britain.
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Indian-born billionaire Lakshmi Mittal, who made a fortune buying mills from Algeria to Mexico, agreed to acquire Wilbur Ross&#39;s International Steel Group Inc.
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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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LAKSHMI MITTAL, the Indian steel tycoon and one of Britainâs richest men, was poised to become head of the worldâs biggest steel company after merging his two businesses
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Steel magnate Lakshmi Mittal will  outline on Monday his vision for the world&#039;s largest  steelmaker, forged by the merger of Mittal Steel  and  Arcelor  in Luxembourg where five months ago he was  spurned as a corporate raider.
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America's biggest steel maker, International Steel Group Inc., agreed to a $4.5 billion buyout bid from a Dutch concern in a multipart transaction that will create the world's largest steel company.
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Mittal Steel , the world&#039;s  No. 1 steel firm, said on Friday it was re-evaluating its plans  to set up a steel plant in the mineral-rich eastern Indian  state of Jharkhand.
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Arcelor and Mittal Steel, which have agreed on a deal to form the worldâs largest steel maker, said their combined earnings fell 3.5 percent, to $7.97 billion, in 2006 because of higher raw material costs. The companies also said they had $4.5 billion to $5 billion available for acquisitions this year, and confirmed that they were examining the financial records of an Indian steel maker, Sesa Goa. Reporting as if the companies were already fully combined, Arcelor Mittal said it earned $7.97 billion in 2006, down from $8.26 billion a year earlier. Revenue rose 10 percent, to $88.57 billion, in the year.
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Two Indian television channels on Sunday  reported that steel makers Mittal Steel   and  Arcelor  had reached a merger agreement in principle  and the new company would be called Arcelor Mittal.
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Steel tycoon Lakshmi Mittal announced plans Monday to take over US steelmaker International Steel Group as part of a three-way merger to create a global metals mammoth.
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Arcelor Mittal, the world's biggest steel group, has secured a new credit line of 17 billion euros (22.6 billion dollars) with a syndicate of 26 banks.
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The world's biggest steelmaker stacks up impressively against the competition.