{"page":"\u003clink rel=\"stylesheet\" href=\"https://lessonplanet.com/assets/packs/css/resources-572d6a42.css\" /\u003e\n\u003clink rel=\"stylesheet\" href=\"https://lessonplanet.com/assets/packs/css/lp_boclips_stylesheets-f4d0de30.css\" media=\"all\" /\u003e\n\u003cdiv data-title='Mittal Steel launches US$27 billion offer for rival Arcelor' data-url='/boclips/videos/5c54bf2ed8eafeecae141273' data-video-url='/boclips/videos/5c54bf2ed8eafeecae141273' id='bo_player_modal'\u003e\n\u003cdiv class='boclips-resource-page modal-dialog panel-container'\u003e\n\u003cdiv class='react-notifications-root'\u003e\u003c/div\u003e\n\u003cdiv class='rp-header'\u003e\n\u003cdiv class='rp-type'\u003e\n\u003ci aria-hidden='true' class='fai fa-regular fa-circle-play'\u003e\u003c/i\u003e\nVideo\n\u003c/div\u003e\n\u003ch1 class='rp-title' id='video-title'\u003e\nMittal Steel launches US$27 billion offer for rival Arcelor\n\u003c/h1\u003e\n\u003cdiv class='rp-actions'\u003e\n\u003cdiv class='mr-1'\u003e\n\u003ca class=\"btn btn-success\" data-posthog-event=\"Signup: LP Signup Activity\" data-posthog-location=\"body_link_boclips\" data-remote=\"true\" href=\"/subscription/new\"\u003e\u003cspan\u003e\u003cspan\u003eGet Free Access\u003c/span\u003e\u003cspan class=\"\"\u003e for 10 Days\u003c/span\u003e\u003cspan\u003e!\u003c/span\u003e\u003c/span\u003e\u003c/a\u003e\n\u003c/div\u003e\n\u003c/div\u003e\n\u003c/div\u003e\n\u003cdiv class='rp-body'\u003e\n\u003cdiv class='rp-info'\u003e\n\u003cdiv aria-label='Hide resource details' class='rp-hide-info' role='button' tabindex='0'\u003e\u0026times;\u003c/div\u003e\n\u003ci aria-label='Expand resource details' class='rp-expand-info fai fa-solid fa-up-right-and-down-left-from-center' role='button' tabindex='0'\u003e\u003c/i\u003e\n\u003ci aria-label='Compress resource details' class='rp-compress-info fai fa-solid fa-down-left-and-up-right-to-center' role='button' tabindex='0'\u003e\u003c/i\u003e\n\u003cdiv class='rp-rating'\u003e\n\u003cspan class='resource-pool'\u003e\n\u003cspan class='pool-label'\u003ePublisher:\u003c/span\u003e\n\u003cspan class='pool-name'\u003e\n\u003cspan class='text'\u003e\u003ca data-publisher-id=\"30356011\" href=\"/search?publisher_ids%5B%5D=30356011\"\u003eCurated Video\u003c/a\u003e\u003c/span\u003e\n\u003c/span\u003e\n\u003c/span\u003e\n\u003c/div\u003e\n\u003cdiv class='rp-description'\u003e\n\u003cspan class='short-description'\u003eLuxembourg - 18 May 2006 1. Wide shot of Arcelor HQ building 2. Mid shot of Arcelor HQ building 3. Close up of entrance to Arcelor HQ 4. Close up of Arcelor sign 5. Various exteriors of Arcelor HQ building ARCELOR VNR - Non AP Television...\u003c/span\u003e\n\u003cspan class='full-description hide'\u003eLuxembourg - 18 May 2006 \u003cbr/\u003e1. Wide shot of Arcelor HQ building \u003cbr/\u003e2. Mid shot of Arcelor HQ building \u003cbr/\u003e3. Close up of entrance to Arcelor HQ \u003cbr/\u003e4. Close up of Arcelor sign \u003cbr/\u003e5. Various exteriors of Arcelor HQ building \u003cbr/\u003eARCELOR VNR - Non AP Television News material\u003cbr/\u003eFILE - date And location Unknown\u003cbr/\u003e6. Various of steel being processed in factory\u003cbr/\u003eMITTAL VNR - Non AP Television News material\u003cbr/\u003e7. Various of Mittal facilities\u003cbr/\u003e8. Various of steel-making process\u003cbr/\u003eMittal Steel Co. officially launched its 27 (b) billion dollar (21 billion euro) offer for rival Arcelor SA on Thursday, seeking a tie-up that would join the world's two largest steelmakers into a global titan.\u003cbr/\u003eThe cash and stock offer, launched in Luxembourg, France and Belgium, is open until June 29. \u003cbr/\u003eMittal said it will also launch a bid in Spain and the United States when market regulators clear the offer.\u003cbr/\u003eArcelor, based in Luxembourg, has so far rejected the offer as hostile, saying the best thing for the company's shareholders is Arcelor's current management and plans. \u003cbr/\u003eMost of the company's equity is held by a wide variety of small and institutional investors, as well the governments of Luxembourg and Belgium's Walloon region.\u003cbr/\u003eIn a move that could help Arcelor defend itself, the company has said it plans to spend up to 7.5 (b) billion euros, 9.5 (b) billion dollars to buy back almost a quarter of its shares.\u003cbr/\u003eArcelor had no immediate comment on Thursday, but shareholders are due to meet on Friday to discuss the share buyback.\u003cbr/\u003eMittal Chairman and CEO Lakshmi Mittal - Britain's richest citizen - said in a statement that his company's offer has been well received by markets \"through the considerable value created.\"\u003cbr/\u003eMarkets did not react warmly -  Arcelor shares fell by 4.39 percent in Brussels and by 2.59 percent in Paris by 1130GMT after the bid was launched.\u003cbr/\u003eIt also headed the losers on the Madrid exchange, falling 2.3 percent even though Mittal has not yet opened the offer in Spain. \u003cbr/\u003eMittal fell 2.54 percent on the Amsterdam exchange.\u003cbr/\u003eIt is offering Arcelor shareholders four Mittal Steel shares and 45.41 US dollars (35.25 euros) for every five Arcelor shares. \u003cbr/\u003eA secondary offer consists of 36.34 US dollars (28.21 euros) for each Arcelor share.\u003cbr/\u003eShareholders can pick a mix of cash and stock as long as the total is not more than one-quarter cash and three-quarters stock.\u003cbr/\u003eMittal is refusing to pay more than six (b) billion dollars in cash, resisting calls for an all-cash offer by saying its shares are a more attractive and potentially lucrative investment.\u003cbr/\u003eMerging the world's top steelmakers would create a company with nearly a 10 percent share of global steel production and a market capitalisation close to 40 (b) billion US dollars (33 billion euros).\u003cbr/\u003e\u003c/span\u003e\n\u003c/div\u003e\n\u003cdiv class='action-container flex justify-between'\u003e\n\u003cbutton aria-expanded='false' aria-label='Read more description' class='rp-full-description' type='button'\u003e\n\u003ci class='fai fa-solid fa-align-left'\u003e\u003c/i\u003e\n\u003cspan id='read_more'\u003eRead More\u003c/span\u003e\n\u003c/button\u003e\n\u003cdiv 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