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Arcelor and Severstal to Merge,
Creating The World's Biggest Steelmaker


Arcelor and Severstal to Merge,
Creating The World's Biggest Steelmaker

Friday, May 26, 2006
 
European steelmaker Arcelor is set to merge with Russian company Severstal in a deal worth a net 12 billion euros, creating the world's biggest steel company and thwarting a hostile raid by Mittal Steel. The merger, to be finalised at the end of July, will create a 46-billion-euro (59-billion-dollar) company.

 

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