Mittal bid gets competition green light from Europe

Mittal Steel’s bid for Arcelor has been approved by the European Commission after a Phase I investigation. If Mittal’s bid is successful, it will combine the world's largest steel company (Mittal) with Europe’s largest producer (Arcelor). The Commission found that the two companies’ activities were largely complementary and strong competitors would remain in almost all product areas. Where there were potential competition concerns divestments were offered to address such concerns.RBB, working closely with Cleary Gottlieb, provided economic advice to Mittal throughout the EU notification of the proposed transaction.