Arcelor
Arcelor
Arcelor S.A. was the world's largest steel producer in terms of turnover and the second largest in terms of steel output, with a turnover of €30.2 billion and shipments of 45 million metric tons of steel in 2004. The company was created in 2002 by a merger of the former companies Aceralia (Spain), Usinor (France) and Arbed (Luxembourg). Arcelor is now part of ArcelorMittal after a takeover by Mitt
"“What do you want out of this economic patriotism? A strong European company, a strong European champion. This is the merger of two European companies: no job cuts, better future, better product, more investment.” — Mittal in European Voice."
"“I cannot perceive why there must be hostile takeovers within the EU.” — Jean-Claude Juncker in FT Deutschland."
"“Id like to present to you my fellow managers — my son isn’t one of them.” - Arcelor chief executive Guy Dolle, opening a news conference by mocking the presence of Indian-born Mittal’s son as his company’s finance director."
"“There are two types of steel: high-end and commoditised. There are those who specialise in a sort of perfume like Arcelor and others like Mittal who produce Eau de Cologne.” — Dolle."
"“I wish to state strongly that protectionist impulses have no place in modern economic governance.” — Breton in Financial Times, rejecting claims that France’s “economic patriotism” policy is unfair to Indian and other foreign firms."
"“We have been courting for a long time. Now it is time to be engaged to be married.” — Dolle, announcing a tie-up with Russia’s Severstal to thwart Mittal offer."
"“The concerns (about the Mittal offer) that have been expressed are entirely legitimate. I don’t understand what the fuss is about.” — French President Jacques Chirac in India."
"“Arcelor’s shareholders are being forced to hand over control of their company, whilst being denied a premium.” — Mittal spokesman on the Arcelor-Severstal deal."
"“The grammar of business is no be respected.” — French Finance Minister Thierry Breton, expressing “profound concerns” about the unsolicited offer and its lack of advance warning."
"“We are not at war here, we are creating value for shareholders.” — Lakshmi Mittal at a news conference."
"“I am determined, as is the Government, to do everything to preserve everything that we have worked for and that we believe in … by using all necessary means to fend off the hostile (bid).” — Luxembourg Prime Minister Jean-Claude Juncker."
