EU antitrust commission to scrutinize Mittal bid
EU Competition Commissioner Neelie Kroes said Friday that Mittal Steel bid for
Luxembourg-based Arcelor would be thoroughly scrutinized in the framework of antitrust rules.
As reported by SteelOrbis, Mittal Steel, the world's largest steel producer, launched a Euro 18.6 billion-bid for Arcelor in an effort to create the world's largest steel company with an annual
production of more than 100 million tons.
Lakshmi Mittal, CEO of Mittal Steel, indicated that he did not expect the bid to face any regulatory difficulties.
However, the French government reportedly has concerns about the bid, particularly with regard to the French and European industries.