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ArcelorMittal Completes Merger Process
11/14/2007 - ArcelorMittal announces the effectiveness of the merger of ArcelorMittal into Arcelor, the second step in the two-step merger process between Arcelor and Mittal Steel NV, which merged into ArcelorMittal on September 3, 2007.
ArcelorMittal announced the effectiveness of the merger of ArcelorMittal into Arcelor, following approval by the Extraordinary General Meetings of ArcelorMittal and Arcelor Shareholders on November 5, 2007.
The merger is the second step in the two-step merger process between Arcelor and Mittal Steel Co. NV, which merged into ArcelorMittal on September 3, 2007.
As a result of the merger, Arcelor has been renamed “ArcelorMittal.” Holders of ArcelorMittal shares automatically received one newly issued ArcelorMittal (ex-Arcelor) share for every one (former) ArcelorMittal share on the basis of their respective holdings in (former) ArcelorMittal.
The ArcelorMittal (ex-Arcelor) shares are now listed and traded on Euronext Amsterdam, Euronext Brussels and Euronext Paris by NYSE Euronext, the stock exchanges of Barcelona, Bilbao, Madrid, and Valencia, and the New York Stock Exchange, and are listed on the Official List of the Luxembourg Stock Exchange and admitted to trading on the regulated market of the Luxembourg Stock Exchange.
The former ArcelorMittal shares automatically disappeared in the merger and are no longer listed and traded on any of the abovementioned stock exchanges.
ArcelorMittal is the world's largest steel company, with 320,000 employees in more than 60 countries. The company leads a number of major global markets, including automotive, construction, household appliances and packaging, with leading R&D and technology, as well as sizeable captive supplies of raw materials and outstanding distribution networks. An industrial presence in 27 European, Asian, African and American countries exposes the company to key steel markets, from emerging to mature, positions it will be looking to develop in the high-growth Chinese and Indian markets.
ArcelorMittal’s key pro forma financials for 2006 show combined revenues of USD 88.6 billion, with a crude steel production of 118 million tonnes, representing around 10% of world steel output.
