Steel magnate Mittal gets Â£1.1bn merger bonus
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LAKSHMI Mittal, the billionaire steel magnate who was controversially aided by Tony Blair after donating Â£125,000 to the Labour party in 2001, is performing a double merger to create the world&#39;s largest steelmaker by output.
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Ispat International will buy LNM Holdings and International Steel Group Inc., forming the worldâs largest steel firm in a deal worth a total of $17.
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Anglo-Dutch steelmaker Corus will merge with Tata Steel next month once the Indian company's shareholders approve the 13.7-billion-dollar takeover, Tata said Saturday.
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The world&#039;s biggest  steelmaker Mittal  faced further pressure to raise its  23-billion-euro (&#36;29-billion) bid for rival Arcelor   after Russian suitor Severstal  improved its friendly  merger offer.
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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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The European headquarters of US banking giant Citigroup in London's Canary Wharf is sold for Â£1bn.
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Steel giants Arcelor and Mittal Steel, which are to combine to create by far the biggest world steel group, said their joint net profit was 1.310 billion euros in the second quarter.
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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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India's Tata Steel  won a bid battle for Anglo-Dutch steelmaker Corus Group   on Wednesday by agreeing to offer investors 608 pence per share in cash, or 5.75 billion pounds ($11.3 billion).
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Mittal Steel Co NV   said  on Wednesday it was announcing the final approval and timetable  of its agreed tender offer for rival steelmaker Arcelor  .
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London: NRI business tycoon Lakshmi N. Mittal-owned Ispat International on Monday emerged as world&#39;s largest steelmaker as it announced its merger with The Netherlands-based LNM Holdings and US International Steel Group to form Mittal Steel Corporation.
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The Indian media hails firm Tata for winning a $12.1bn bid to take over Anglo-Dutch steelmaker Corus.
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Dutch-Indian steel group Ispat International announced that it had agreed to merge with Dutch LNM Holdings and US International Steel Group to form the world's largest steelmaker, which would be known as Mittal Steel.
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LONDON: NRI business tycoon Lakshmi N Mittal-owned Ispat International on Monday became the world&#39;s largest steelmaker with a new American acquisition that enables the newly-named Mittal Steel Company straddle four continents and 14 countries.
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Insurer Royal and Sun Alliance became the latest high-profile British firm to announce a mass transfer of jobs to India, saying it plans to move 1,100 positions there by 2006, saving the group 10 million pounds annually (14.5 million euros, 18.0 million dollars).
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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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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.