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An Audacious Acquisition: A Case Study of a Hostile Takeover
CASE STUDY
It was on 18 June 2006 that Lakshmi Niwas Mittal, Chairman of Mittal Steel Ltd., the seventeenth-largest steel manufacturer in the world, was to meet Joseph Kinsch, Chairman of Arcelor AG, the second-largest steel manufacturer in the world. The Mittals had made a bid for the acquisition of Arcelor AG in accordance with the proposal made by Arcelor and the Government of Luxembourg. L. N. Mittal, having made a very competitive bid, had come on the appointed day along with his very senior executives for the crucial meeting with J. Kinsch to consider the Mittals’ offer for the acquisition of Arcelor AG. After three long hours, the meeting broke up without any outcome, although ...
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