ArcelorMittal (Euronext: MT, NYSE: MT, BMAD: MTS, LuxSE: MT) is the largest steel company in the world, with 326,000 employees in more than 60 countries. The company was formed in 2006 by the merger of Arcelor and Mittal Steel. It ranks 39th on the 2008 Fortune Global 500 list. The company is headquartered in Luxembourg City, the former seat of Arcelor.My answer, for today, is that Donnelly is part of the equation. But long term, my guess is that another Indian entreprenuer whose company is based in the Netherlands, and managed from London is probably going to wind up getting this right. Or maybe someone from China. Or maybe three guys in a garage.
Consider that as of today, Donnelly's market cap is $1.9 billion. Kodak's Market Cap is $1.1 billion. So for $3 billion someone could buy one of the world's best brands and one of the world's most robust Print manufacturing organizations. Once $3 billion was a lot of money.
More from wikipedia,
CEO Lakshmi Mittal's family owned 88% of the company. Mittal Steel was based in Rotterdam but, managed from London by Mittal and his son Aditya. It was formed when Ispat International N.V. acquired LNM Holdings N.V. (both were already controlled by Lakshmi Mittal) and merged with International Steel Group Inc. (the remnants of Bethlehem Steel, Republic Steel and LTV Steel) in 2004. On 25 June 2006, Mittal Steel decided to merge with Arcelor, with the new company to be called Arcelor Mittal. The merger has been successfully approved by shareholders and directors of Arcelor making L.N. Mittal the largest steel maker in the world.