Arcelor to hold offering for CST shares
Luxembourg-based steel giant Arcelor announced that it would hold a public offering for all outstanding common shares in Brazil's Companhia Siderurgica de Tubarao (CST). The offering is scheduled for July 6, 2005. Arcelor intends to buy nearly 1.04 billion CST shares at a price of Real 109.70 ($45) per 1'000 shares. Arcelor currently holds a 73% stake in CST. The offer will increase Arcelor's stake to 100%.