Mittal/Nippon Steel Looking East

Arcelor shareholders should view today’s meeting between the company’s boss and Nippon Steel with mixed feelings. In theory, the Japanese group could be just what is needed to get an auction going for the European steelmaker and so maximise shareholder value. But is that what Guy Dolle, Arcelor’s president, really wants? Investors may be worried that he is more concerned with fending off the unfriendly attentions of Mittal Steel at any cost. Look first at the upside. Nippon is probably the best ...