Six deals that changed the market in 2006
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Deal type: Mittal Steel’s €26.9 billion acquisition of Arcelor |
Mittal Steel’s hostile takeover bid for Arcelor launched in January 2006 pitched the new world against the old, a family-run, entrepreneurial, aggressive upstart – built up from its foundations in Indonesia in the 1970s through the acquisition of struggling, almost bankrupt privatized national steel companies in central and eastern Europe – against a grand if rather sleepy grouping of old national champions of western Europe, tracing their origins to the late 19th century.
“It was unsolicited and at first hostile.
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