Let shareholders decide

Arcelor has engaged in quite a bit of mischief in its attempt to escape Mittal Steel’s clutches. It should foreswear the temptation to engage in any more dubious tactics. Around 30% of Arcelor shareholders have now demanded an EGM because they are angry that the company is trying to ram through a rival merger with Russia’s Severstal without giving them an effective voice. The natural thing would be to hold the EGM swiftly. If over half those attending or represented at the EGM agreed to change t...