ackground (before the deal)
The largest producer of steel in terms of volume. Despite the fact that Mittal steel is based in Netherlands,it is perceived that the company is non-Europeanbecause its CEO Lakshmi Mittal is Indian. Headquartered in Luxembourg, the merger of three steel companies-Aceralia, Arbed and Usinor led to thecreation of Arcelor. In 2005, Arcelor had revenues of 32billion Euros.