Sparks fly as Arcelor attacks Mittal Steel bid

The Guardian ^ | Tuesday January 31, 2006 | David Gow

[M_Nair]

Sparks fly as Arcelor attacks Mittal Steel bid · Chief executive lambasts record on jobs and safety · Deal ruled out after surprise hostile approach David Gow in Paris Tuesday January 31, 2006 The Guardian Arcelor, the European steelmaker, yesterday launched its defence against Mittal Steel's hostile €18.6bn (£13bn) takeover bid with a savage attack on its predator's track record, claiming Mittal had destroyed shareholder value and jobs and had a shoddy record on corporate governance and safety. Taking the gloves off in what executives promised would be a six-month battle, Guy Dollé, Arcelor chief executive, virtually ruled out any deal with Mittal now or in the future. "It is too late....

[M_Nair]

The frogs and their ways..

[Brilliant]

This just proves what I've been saying for years, namely that the EU pretends to engage in fair trade, but there is always some excuse why foreign companies can't be permitted to do business in Europe.

[Dr.Deth]

Guy Dollé, Arcelor chief executive

Some things you couldn't make up if you tried.

[Rodney King]

Think about it this way: Would you really be upset about the "process" if somebody walked up to your house and offered to pay you a huge sum for it? Of course not. The Frogs no damn well it is a good deal for the shareholders, but they don't want to turn their playhouse over to an Indian.