Is Mittal now eyeing Posco too?

• Desh's blog
• 925 reads

Is the world's biggest company and greatest steel barron.. after the second biggest steel company in the world? Well, it seems that Mittal is not content to just stand still and keep looking at the steel market even after becoming the king.. he wants to rule ruthlessly and as the only king!! All the best to him!

India-born steel tycoon L N Mittal is planning a hostile takeover bid for South Korea's POSCO, even as the Korean giant is looking to build up its defence against any such move by raising friendly shareholding in the company, media reports said.

The Korea Economic Daily reported that the world's largest steel maker Arcelor-Mittal was mulling hostile takeover of Pohang Steel Company (POSCO) and a message about Arcelor-Mittal's interest was conveyed to the Korean major last month.

The paper said that Roland Junck, an adviser to Arcelor-Mittal CEO Lakshmi Mittal had in February asked POSCO specific questions about its merger and acquisition strategies in Asia.

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