The Indian MITTAL STEEL group has launched its hostile takeover bid for rival ARCELOR -€ 19 billion in cash and shares. Shareholders in the latter have 40 days (the takeover will be concluded by 29 June) to decide on whether to sell their shares to MITTAL or not. If they agree to the offer, they will get four MITTAL STEEL shares and € 35.25 for five ARCELOR shares. If MITTAL convinces the authorities, it will create a world steel giant worth around USD 40 billion, employing 320,000...