December 2004 – LAWFUEL – First for law news – Jones Day is advising International Steel Group, Inc. in its $4.5 billion merger with Ispat International N.V. announced on October 25. Prior to the closing of the ISG/Ispat merger, Ispat, which is currently over 80% controlled by steel magnate Lakshmi Mittal and his family, will acquire LNM Holdings N.V., a private company owned by the Mittal family, to form Mittal Steel Company N.V.
The combined company will be the world’s largest steel company, with operations in 14 countries on four continents, over $30 billion in annual revenues, and 165,000 employees. The Mittal family will own 88% of the new company, with ISG shareholders owning 9% and Ispat shareholders owning 3%.
The Jones Day team is led by Robert Profusek in New York and includes Lyle Ganske (Cleveland), Marilyn Sonnie (New York) – M&A, Candace Ridgway, Lester Droller (Washington) – Tax, John Cornell (New York) – Benefits, Tom Smith, Peter Love (Washington), and Gregory Olsen (London) – Antitrust.
For more information about this deal, please click here: http://phx.corporate-ir.net/phoenix.zhtml?c=147760&p=irol-newsArticle&ID=634858&highlight=