Steels - A New Character!

I already wrote the whole saga about the happenings around the Steel Industry from the start of this year. Now, add some more spice!

A new character comes into this story. It is Severstal (well, another LARGEST Russian steel maker) and Alexey Mordashov(Picture) - He has like 90% stake on Severstal! Severstal has been trying to make a statement to the world because it really wants to become big in the coming years by doing some acquisitions all over the world - Where else than the remaining BIC of BRIC & somewhat in US too. So, what is this character's role in this story? Acquisition - He is a strong competitor against Mittal Steel, in bidding & taking over Arcelor.

So if at all this deal works out, then it seems Severstal will become the sole leader above Mittal Steel, like 70 Million Tonnes of Steel Output per year against Mittal's 60 Million. BTW, if Mittal succeeds in its hostile takeover bid on Arcelor, it is going to roll out like 100 Million Tonnes. So, you do the math how much Arcelor is sending out:)

Is this deal for sure? Even this is dancing on the wall. Guy Dolle, CEO of Arcelor is worried because more than 50% of the Arcelor share holders need to vote for the deal. We wait & watch!