Mittal Steel Co. launches official $27 billion US offer for rival Arcelor

This has been coming for months, so it’s really no surprise. But it just feels like bad news for the small metal stamper … I can’t prove it, but it just feels like too much concentration of the market in too few hands.

Canadian Business Online
Mittal Steel Co. officially launched its $27 billion US offer for rival Arcelor SA, seeking a tie-up that would join the world’s two largest steelmakers into a global titan.
The cash and stock offer, launched in Luxembourg, France and Belgium, is open until June 29. Mittal said it also will launch a bid in Spain and the United States when market regulators clear the offer.
[…]
Merging the world’s top steelmakers would create a company with nearly a 10 per cent share of global steel production

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