Mittal Steel's roughly 33 billion dollar hostile-turned-friendly takeover of Arcelor, completed in 2006 after a bitter months-long battle marked by nationalist opposition in France and Luxembourg, formed ArcelorMittal, the world's largest steel producer by a wide margin. The combined company, led by Lakshmi Mittal, controlled roughly one-tenth of global steel output and became a landmark case in the consolidation of the global steel industry.
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ArcelorMittal S.A. is the corporation this 2006 merger of Arcelor and Mittal Steel created.
The Mittal Steel 2006 acquisition of Arcelor, forming ArcelorMittal after a contested hostile bid, is a finance-practice case study in cross-border hostile-takeover financing.
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