Arcelor publishes Board of Directors report which sets the financial terms of the self tender offer
Market Wire, June, 2006
Arcelor publishes Board of Directors report which sets the financial terms of the self tender offer
Luxembourg, 15 June 2006 - Arcelor informs its shareholders that it has published on the Group's website www.arcelor.com (under Investor Relations/News) the Board report to the extraordinary shareholders' meeting convened on 21 June, 2006 to approve the self tender offer. In order to allow shareholders to express a fully-informed opinion on this proposed transaction, the document published by Arcelor describes the following:
- The rationale and the timing of the self tender offer,
- A presentation of the impact of the self tender offer on the accounts, the market capitalization and Arcelor's shareholding,
- The valuation methods retained for the price of 44 Euros offered to the shareholders in connection with the self tender offer,
- The Board's opinion on the financial terms and the conformity of the self tender offer to the company's and shareholders' interest.
This document is an integral part of the information campaign announced by the Board of Directors in its 12 June press release in order to ensure that its shareholders are fully informed on the Group's ongoing transactions.
About Arcelor
Arcelor is the number one steel company in the world with a turnover of 32.6 billion euros in 2005. The company holds leadership positions in its main markets: automotive, construction, household appliances and packaging as well as general industry. The company - number one steel producer in Europe and Latin America - ambitions to further expand internationally in order to capture the growth potential of developing economies and offer technologically advanced steel solutions to its global customers. In 2006, Arcelor employs 110,000 associates in over 60 countries. The company places its commitment to sustainable development at the heart of its strategy and ambitions to be a benchmark for economic performance, labour relations and social responsibility.For more information visit www.arcelor.com
The full press release is available on http://www.companynewsgroup.com
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