Mittal Steel completes $4.5B acquisition of ISG

Apr 18, 2005 | 10:02 AM | Maria Guzzo

Mittal Steel Co. NV sealed its takeover of International Steel Group Inc. (ISG) late Friday, making the Rotterdam-based company the world's largest steel producer.

Mittal Steel purchased Cleveland-based ISG for $4.5 billion.

Lakshmi N. Mittal, Mittal's chairman and chief executive officer, hailed the move as marking a new era for both Mittal Steel and the global steel industry. "We expect this combination to create opportunities for both Mittal Steel and ISG's stakeholders," he said. "The integration process will begin immediately and we will do our very best to make the transition seamless. I would like to take this....

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