ArcelorMittal has announced that Mittal Steel Co. (Mittal Steel) shareholders have approved the first phase of the merger of Mittal Steel into ArcelorMittal at Mittal's extraordinary general meeting. 98.8 percent of the votes were cast in favor of the merger, which is expected to be effective as of September 3, 2007.
Mittal shareholders will automatically receive one ArcelorMittal share for each Mittal share which they currently possess.
On August 27, Dutch and French courts rejected an attempt by Arcelor shareholders to block the €30 billion (US$41 billion) merger.