New steel giant iSG, Ispat Inland joining mittal
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Tycoon Lakshmi N. Mittalâs $4.5 billion purchase of International Steel Group will create a colossal powerhouse in the world steel industry with the capabilities of producing 70 million tons of steel annually.
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Ispat Iscor on Monday said it was delighted with the formation of the new Mittal Steel company, which moved it from the world&#39;s number two steel group to the world&#39;s biggest steel company.
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Wilbur Ross, whose buyout firm created International Steel less than two years ago, is selling the company to Lakshmi N. Mittal, the billionaire steel tycoon, for $4.5 billion.
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The world's largest steel firm, Arcelor Mittal, moves closer to increasing its stake in China Oriental.
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Mittal Steel, currently the world&#039;s number one steel maker, is prepared to take a minority stake in European rival Arcelor which wants to merge with Russian giant Severstal, Mittal&#039;s European chief Roeland Baan said in a newspaper interview.
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India's Tata Steel is set to become the  world's fifth-biggest steelmaker after winning a bid battle for  Anglo-Dutch steelmaker Corus Group by agreeing to pay 5.75  billion pounds ($11.3 billion).
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The &quot;bigger is better&quot; mind-set dominating the steel industry reached new heights yesterday when billionaire baron Lakshmi Mittal said he&#39;ll create the world&#39;s largest
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Privately-owned Dutch steelmaker LNM Group said Monday it plans to merge its two main divisions, Ispat International NV and LNM Holdings NV, and then take over US-based International Steel Group, which would make it the largest steel company in the world.
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London, October 26: NRI business tycoon Lakshmi N. Mittal has emerged as the richest man in Britain. The historic merger of his steel conglomerate Ispat with its rival, International Steel Group of USA, to
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Privately-owned Dutch steelmaker LNM Group said Monday it plans to merge its two main divisions, Ispat International NV and LNM Holdings NV, and then take over U.S.-based International Steel Group Inc. in a deal that would make it one of the largest steel companies in the world.
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Ispat International (ISPA.AS: Quote, Profile, Research) (IST.N: Quote, Profile, Research) will merge with LNM Holdings and Ohio-based International Steel Group Inc.
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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 said it had signed a deal to take a 37 percent stake in one of China's leading steelmakers, giving the group its first production platform in the world's fastest growing steel market.
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Privately-owned Dutch steelmaker LNM Group said Monday it plans to merge its two main divisions, Ispat International NV and LNM Holdings NV, and then take over U.S.-based International Steel Group Inc.
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WEIRTON, WV -- The news came down early Monday morning: ISPAT International Group and LNM Holdings merged into a giant steel company called Mittal Steel Company.
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NEW YORK (CBS.MW) - UK billionaire Lakshmi Mittal created the world&#39;s largest steel maker on Monday, buying out Wilbur Ross&#39; International Steel Group and merging it with his Ispat International and LNM Holdings groups in a deal worth almost $18 billion.
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Mittal Steel, the world's biggest steel producer, announced that it controls 91.88 percent of European steel maker Arcelor following its 25-billion-euro takeover bid.