October 12, 2008

Arcelor minority share group plans injunction to block merger

Reuters reported that a minority shareholder group of Arcelor said on Friday it would lodge an injunction in Luxembourg to block a meeting needed to complete the steel maker's merger with its parent ArcelorMittal.

Mr Bruno de Kerviler head of the Arcelor minority shareholder group, told Reuters "We will file an injunction in the coming days. Should the merger go ahead, despite the injunction, we will file for damages in Paris.”

Arcelor and Mittal Steel, which already function as a single entity, aim to finalize the merger in November in a shareholders meeting is due to take place on November 5th 2007.