The Mittal family will own 43% of the merged company, according to a statement from Arcelor.
cash will be 69% and 31%, respectively," Arcelor said.
"The negotiated exchange offer ratio implies relative valuations of 60% for Arcelor shareholders and 40% for Mittal Steel shareholders, Arcelor said. "Therefore, taking into account the cash portion of Mittal Steel's offer, the shareholders of Arcelor and Mittal Steel will hold 50.5% and 49.5% of Arcelor-Mittal, respectively."
A mixed offer at a price equal to 13 Mittal Steel shares and 150.6 euros in cash per 12 Arcelor shares, or 12.55 euros in cash and 1.084 Mittal Steel shares per Arcelor share A cash offer at a price equal to 40.4 euros per Arcelor share An exchange offer at an exchange ratio of 11 Mittal Steel shares per 7 Arcelor shares A mixed offer for Arcelor convertible bonds (OCEANEs) at a price equal to 13 Mittal Steel shares and 188.42 euros per 12 Arcelor OCEANEs