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Tuesday, Sep 17, 2019

Arcelor Mittal gets court summons over merger

Arcelor Mittal says it has received a summons to appear before a judge over its merger, which is being opposed by some shareholders.

business Updated: Aug 17, 2007 00:45 IST

Reuters
Hindustantimes
         

Arcelor Mittal said on Thursday it had received a summons to appear before a judge over its merger, which is being opposed by some Arcelor shareholders.

A majority of Arcelor shareholders accepted a takeover offer from sector leader Mittal Steel after an acrimonious fight between the two companies. But a group of shareholders is seeking an injunction against the deal.

ArcelorMittal will respond to this before a judge in Rotterdam on Aug. 22, the company said in a statement.

"ArcelorMittal believes there are no grounds to these claims," it said.

The merger of the two companies is expected to take effect during early September.

First Published: Aug 17, 2007 00:41 IST