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Well done Mittal

Cementing the age-old Indian tradition of pursuing till you reach your goal, steel-baron and Europe's richest man, LN Mittal finally got hold of Arcelor after a much sought-after battle of wits where once Arcelor CEO even made deregatory remarks against Mittal.

But after watching all the news channels grabbing a pie of the action and as the news trickled down, I somehow felt that Mittal has given up so many things in pursuit of Arcelor. First of all, Guy Dolle, the CEO of Arcelor will be Chief Executive of the now christined Arcelor Mittal, the current Chairman of Arcelor will be the non-executive Chairman and Mittal only being a President of the company. He has raised his bid to an optimal 49% more than what he offered initially. Equal number of Board members from both the company!

Anyways, well done Mittal!

Update: Guy Dolle won't be the CEO of the new company and will only be helping the company in its smooth transition!

Comments

  1. Anonymous27 June, 2006 03:37

    thanks for posting international hot news of overseas Indians!

    ReplyDelete

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