The Washington Post
Mittal Gets More Time to Sell Baltimore Mill
Mittal Steel received 15 more days to sell a Maryland mill in order to settle antitrust issues. The extension gives Mittal until July 5 to sell its Sparrows Point plant near Baltimore, the Justice Department said. The government can extend the period for up to another 15 days if necessary, the agency said.
The Justice Department ordered Mittal to sell the mill as a condition of its pending acquisition of Arcelor of Luxembourg, saying the divestiture would preserve U.S. competition in the production of tin-plated steel, which is used to make cans for food, aerosol sprays and paint.
Mittal’s estimated $41 billion deal for Arcelor would create the world’s largest steel company, to be called Arcelor Mittal.