Politicians and unions in several European countries sounded an alarm Monday over the hostile, $23 billion bid by Mittal Steel, the world's largest steel company, for the second largest, Arcelor. The chairman of Mittal Steel offered reassurances that jobs would be maintained; Arcelor's chairperson, however, warned of a loss of shareholder value and possible job losses.
See "Politicians and Unions Weigh In on Mittal's Hostile Bid", James Kanter, The New York Times, January 30, 2006