No 'poison pill' to kill Mittal bid
Arcelor Chief Executive Guy Dolle said in an interview on Monday that his steel group had not resorted to a "poison pill" in its battle against a takeover bid by rival Mittal Steel.
By Agencies |
PARIS: Arcelor Chief Executive Guy Dolle said in an interview on Monday that his steel group had not resorted to a "poison pill" in its battle against a takeover bid by rival Mittal Steel.
"I challenge anyone to demonstrate that any one of the measures taken since the (Mittal) offer was launched could be a poison pill destined to block the Mittal offer," Dolle told the French business daily La Tribune.
"They are trying to question my integrity and I want to strongly denounce this," he added. "Some people do not hesitate to use the most fallacious arguments to try and manipulate our shareholders."
Arcelor has fought doggedly since late January against an offer by Mittal Steel, the biggest steelmaker worldwide in terms of volume, which became official on May 18 and was raised a day later to 25 billion euros ($32.4 billion).
On May 26, Arcelor announced plans to acquire the Russian steel group Severstal in what analysts said was a bid to become too large for Mittal to swallow.
"I challenge anyone to demonstrate that any one of the measures taken since the (Mittal) offer was launched could be a poison pill destined to block the Mittal offer," Dolle told the French business daily La Tribune.
"They are trying to question my integrity and I want to strongly denounce this," he added. "Some people do not hesitate to use the most fallacious arguments to try and manipulate our shareholders."
Arcelor has fought doggedly since late January against an offer by Mittal Steel, the biggest steelmaker worldwide in terms of volume, which became official on May 18 and was raised a day later to 25 billion euros ($32.4 billion).
On May 26, Arcelor announced plans to acquire the Russian steel group Severstal in what analysts said was a bid to become too large for Mittal to swallow.
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