Courts in the Netherlands and France refused Monday to grant injunctions blocking Mittal Steel's proposed $41 billion acquisition of rival steel maker Arcelor. Legal actions launched in Rotterdam by three hedge funds and in Paris by an activist shareholder were both rejected by judges, clearing hurdles to the creation of the world's largest steel maker as measured by sales. The plaintiffs in both suits are upset by a revised, lower exchange rate offered to shareholders for ArcelorMittal shares.
August 28, 2007 at 12:00 AM
1 minute read
The original version of this story was published on Law.Com
Courts in the Netherlands and France refused Monday to grant injunctions blocking Mittal Steel Co. NV’s proposed $41 billion acquisition of rival steel maker Arcelor SA.
Legal actions launched in Rotterdam by three hedge funds and in Paris by an activist shareholder were both rejected by judges, clearing hurdles to the creation of the world’s largest steel maker as measured by sales.
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