Can Arcelor defend itself?(from Mittal Steel Company N.V.)(Brief Article)

Automotive News Europe, February, 2006 by Lewin, Tony

Byline: Tony Lewin

Arcelor's best chance of preventing a hostile takeover by Mittal may be a non-European such as Japan's Nippon Steel, with which Arcelor has a cooperation agreement.

Anti-trust regulators are likely to block any alliance between Arcelor and a European competitor such as Corus, ThyssenKrupp or Salzgitter. Nippon Steel, like Arcelor, concentrates on higher grade steels used by the auto industry, so it would make a good technical partner.

The CEOs of Arcelor and Nippon met in Paris February 2. But after the meeting Arcelor CEO Guy Bolle said Nippon was unlikely to help.

Bolle told French newspaper Les Echos: "An industrial white knight doesn't exist, and a financial white knight, I don't believe in."