Word: firms
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...Prime Minister, Michel Rocard, wrote an angry screed entitled "Europe Should Say No," that advocated the introduction of a blanket ban on acquisitions by non-Europeans. At Arcelor itself, chief executive Guy Dollé slammed Mittal Steel as "a company of Indians" that was offering "monkey money" for his firm, which he described as "perfume" compared to the "eau de cologne" of his rival...
Perhaps predictably, the takeover battle was long-drawn- out. Mittal had to up his offer to shareholders twice, raising the value of the deal by more than 40% to an eye-popping $33.4 billion, and he changed the ownership structure of the firm to reduce his family's dominant stake. But in late July, almost six months after his initial foray, Mittal had his prize. He admits that the personal attacks were wounding. Yet ultimately they came to naught: through sheer obstinacy and financial savvy, Mittal, 56, overcame every sort of political, personal and financial objection to forge a global...
...entrepreneurs from emerging economies are now jostling for assets all over the world as they seek to become global players. As 2006 was drawing to a close, two other steel titans, one from India, the other from Brazil, were locked in a multibillion-dollar battle for an Anglo-Dutch firm, Corus, while Evraz, a Russian company controlled by billionaire Roman Abramovich, agreed to buy the U.S. firm Oregon Steel Mills for $2.3 billion to create the world's biggest producer of rails...
...modest but well-connected family in Sadulpur, in the northwestern Indian state of Rajasthan, but his business empire has been constructed entirely outside India. Mittal began making his fortune a decade ago after breaking away from his father's Calcutta-based steel business and building his own firm, buying up steel plants in countries ranging from Algeria to Kazakhstan, Ukraine and the U.S. His timing was brilliant: worldwide demand for steel has been soaring because of massive demand from China and other fast-growing economies, and with it so has Mittal's net worth. By 2005, his personal fortune...
...John M. Isaacson, a Law School alum and managing director of Boston-based executive search firm Isaacson, Miller, says that inside candidates can also be hurt by already being entrenched in local politics...