Mittal victory Seminal shareholder victory

In the end, the Arcelor board did its shareholders proud. The final price offered by Mittal Steel after a marathon battle is the second improvement in five months and a huge premium on the undisturbed share price. But this victory for shareholder value was not the board’s intention. If the Luxembourg steel group had had its way, it would have instead force-fed its shareholders a less palatable merger with Russia’s Severstal. Fortunately, shareholders would have none of this. In a virtually unpr...