Arcelor Publishes Board of Directors Report Which Sets the Financial Terms of the Self Tender Offer.LUXEMBOURG -- Arcelor (ISIN Isin (ĭs`ĭn), capital of an ancient Semitic kingdom of N Babylonia. The city became important after the third dynasty of Ur fell to the Elamites and the Amorites (c.2025 B.C.). The phase from c.2025–c.1763 B.C. :LU0140205948) (Pink Sheets:ARLOF) (Paris:LOR LOR Letter Of Reprimand (military) LoR Lord of the Rings (J.R.R. Tolkien) LOR Learning Object Repository LOR Linux.Org. ) informs its shareholders that it has published on the Group's website www.arcelor.com (under Investor Relations/News) the Board report to the extraordinary shareholders' meeting shareholders' meeting n. a meeting, usually annual, of all shareholders of a corporation (although in large corporations only a small percentage attend) to elect the Board of Directors and hear reports on the company's business situation. convened on 21 June, 2006 to approve the self tender offer. In order to allow shareholders to express a fully-informed opinion on this proposed transaction, the document published by Arcelor describes the following: --The rationale and the timing of the self tender offer, --A presentation of the impact of the self tender offer on the accounts, the market capitalization Market Capitalization A measure of a public company's size. Market capitalization is the total dollar value of all outstanding shares. It's calculated by multiplying the number of shares times the current market price. This term is often referred to as market cap. and Arcelor's shareholding, --The valuation methods retained for the price of 44 Euros offered to the shareholders in connection with the self tender offer, --The Board's opinion on the financial terms and the conformity of the self tender offer to the company's and shareholders' interest. This document is an integral part of the information campaign announced by the Board of Directors in its 12 June press release in order to ensure that its shareholders are fully informed on the Group's ongoing transactions. About Arcelor Arcelor is the number one steel company in the world with a turnover of 32.6 billion euros in 2005. The company holds leadership positions in its main markets: automotive, construction, household appliances and packaging as well as general industry. The company - number one steel producer in Europe and Latin America Latin America, the Spanish-speaking, Portuguese-speaking, and French-speaking countries (except Canada) of North America, South America, Central America, and the West Indies. - ambitions to further expand internationally in order to capture the growth potential of developing economies and offer technologically advanced steel solutions to its global customers. In 2006, Arcelor employs 110,000 associates in over 60 countries. The company places its commitment to sustainable development Sustainable development is a socio-ecological process characterized by the fulfilment of human needs while maintaining the quality of the natural environment indefinitely. The linkage between environment and development was globally recognized in 1980, when the International Union at the heart of its strategy and ambitions to be a benchmark for economic performance, labour relations labour relations (US), labor relations npl → relations fpl dans l'entreprise labour relations labour npl → Beziehungen pl and social responsibility. For more information visit www.arcelor.com |
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