{"id":4098,"date":"2006-03-09T00:00:00","date_gmt":"2006-03-09T00:00:00","guid":{"rendered":""},"modified":"-0001-11-30T00:00:00","modified_gmt":"-0001-11-30T04:00:00","slug":"arcelor-ceo-wants-to-fend-off-mittal-takeover","status":"publish","type":"post","link":"https:\/\/hedgeco.net\/news\/03\/2006\/arcelor-ceo-wants-to-fend-off-mittal-takeover.html","title":{"rendered":"Arcelor CEO wants to fend off Mittal takeover, but sees industry consolidation"},"content":{"rendered":"<p>  Forbes &#8211; <span class=\"mainarttxt\">Arcelor SA still believes it can fend off the Mittal Steel Co NV takeover bid, but does see the need for consolidation in the steel industry, chief executive Guy  Dolle said according to the pre-release of an interview to appear in Die Welt tomorrow.<\/span><\/p>\n<p>  <span class=\"mainarttxt\">The CEO said he has seen no signs on the investor road show that the company&#8217;s shareholders want to accept Mittal&#8217;s 18.6 bln eur takeover offer, contrary to statements made  by Mittal.<\/span><\/p>\n<p>  <span class=\"mainarttxt\">&#8216;Our shareholders are very happy with our current performance and the growth plan,&#8217; Dolle told the newspaper, adding that the shareholders still favour the independence of  the company.<\/span><\/p>\n<p>  <span class=\"mainarttxt\">&#8216;Mittal Steel and Arcelor do not complement each other&#8217; the CEO said, adding that &#8216;a merger should amount to more than the sum of the two parts&#8217;.<\/span><\/p>\n<p>  <span class=\"mainarttxt\">Dolle added that he feels his arguments against the takeover are good and Arcelor&#8217;s outlook is &#8216;more than good&#8217;.<\/span><\/p>\n<p>  <span class=\"mainarttxt\">He does not see this jeopardized by the entrance of hedge funds as shareholders.<\/span><\/p>\n<p>  <span class=\"mainarttxt\">The newspaper said that short term financial investors currently hold between 25-30 pct of Arcelor&#8217;s shares.<\/span><br \/>  <a href=\"http:\/\/www.forbes.com\/home\/feeds\/afx\/2006\/03\/08\/afx2579746.html\"><\/a><\/p>\n<p>  <a href=\"http:\/\/www.forbes.com\/home\/feeds\/afx\/2006\/03\/08\/afx2579746.html\">Read Complete Article<\/a><\/p>\n<p><a href=\"http:\/\/www.forbes.com\/home\/feeds\/afx\/2006\/03\/08\/afx2579746.html\"><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Forbes &#8211; Arcelor SA still believes it can fend off the Mittal Steel Co NV takeover bid, but does see the need for consolidation in the steel industry, chief executive Guy Dolle said according to the pre-release of an interview [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-4098","post","type-post","status-publish","format-standard","hentry","category-syndicated"],"_links":{"self":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/4098","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/comments?post=4098"}],"version-history":[{"count":0,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/4098\/revisions"}],"wp:attachment":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/media?parent=4098"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/categories?post=4098"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/tags?post=4098"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}