Knowledge@wharton

The biggest takeover battle in the global steel industry came to an end in late June when Mittal Steel the world’s biggest steelmaker acquired Arcelor the industry’s second-largest company. For five months before shareholders signed off on the $32.2 billion transaction both sides were engaged in an acrimonious fight. At times it seemed as though the deal would collapse but finally after Mittal Steel significantly increased its offer it went through. What was Mittal Steel’s strategy in pursuing this acquisition? When the company encountered resistance how did it frame its negotiation strategy? What will the deal mean for the world steel industry? Aditya Mittal president and chief financial officer of Mittal Steel -- and son of founder Lakshmi Mittal -- spoke recently with Knowledge at Wharton. See acast.com/privacy for privacy and opt-out information.