Mittal secures 92% shares of Arcelor

Mittal Steel has announced today the final results of its offer for Arcelor securities, which expired on July 13 in Belgium, France, Luxembourg, Spain and the US. According to results, 594,549,753 of Arcelor shares and 19,858,533 of Arcelor convertible bonds have been tendered, which represent 91.88 percent of Arcelor's share capital and 91.97 percent of Arcelor's voting rights. In accordance with Luxembourg and Belgian laws, there would be a subsequent offering period of the offer in Belgium, France, Luxembourg, Spain and the US from July 27, 2006 to August 17, 2006, which will have the same offering conditions as the initial offering period. After the end of the subsequent offering period, Arcelor's remaining shareholders will be entitled to initiate proceedings to sell their share to Mittal Steel, either on the same conditions as offered in the offer, or at a price of €40.40 per Arcelor share. The period of this sell out is starting on August 18, 2006 and ending on November 17, 2006. Mr. Lakshmi Mittal commented on the issue: ’I am delighted at this result which is a resounding endorsement of the strategic logic and value of the merger of Mittal Steel and Arcelor, a truly industry transforming deal. We are very excited about our future as one company and believe this strong vote of confidence from shareholders paves the way for a speedy integration process, allowing us to realize the full benefits of working together as the undisputed world steel leader'.