steel marking

Mittal Steel Company, the world’s biggest steelmaker, confirms that it is involved in discussions with Baotou Iron and Steel Group Co., Ltd. about a possible participation in this company.

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Arcelor S.A. announces its intention to make an enhanced all cash offer to acquire all of the outstanding common shares of Canadian steelmaker Dofasco Inc. at C$63.00 per share.

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Under the terms of the agreement, Cementhai Holding Company, the largest shareholder of Millennium Steel with a 40% equity stake (prior to the new shares subscribed to by Tata Steel) have committed to sell their shares into a voluntary tender offer that Tata Steel will make for all of the equity and preference shares of Millennium Steel subject to certain conditions precedent.

The tender offer and the subscription to new shares by Tata Steel will be at Baht 1.15 per share.

Millennium Steel is the dominant steel producer in Thailand. The company is listed on the Stock Exchange of Thailand and is owned 40% by Cementhai Holding Company, with the remaining being held widely among institutional and retail investors. The investment is a significant progression in Tata Steel’s globalisation initiatives and, together with the earlier acquisition of NatSteel’s steel business, will significantly enhance its market position in South East Asia.

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