Word: lakshmi
(lookup in dictionary)
(lookup stats)
Dates: during 2000-2009
Sort By: most recent first
(reverse)
...report on Indian billionaire Lakshmi Mittal's hostile takeover bid for Europe's biggest steel company caused some readers to remark that the West is not ready to face competition from Asia...
...world invites you to a private dinner at his gorgeous $128 million London home, who would be so churlish as to refuse, even if he is your biggest business competitor? Guy Dollé says he had no reason to suspect that the Jan. 13 invitation from Lakshmi N. Mittal would be the prelude to a hostile takeover bid that last week sent half of Europe into a frenzy. [an error occurred while processing this directive...
...week. Mittal also needs to convince investors that his bid, which consists mainly of Mittal Steel stock with some cash, is good for them. Mittal Steel has what many see as a financial weak point: its corporate governance structure, which locks in Mittal family control. Lakshmi's son Aditya, 29, is president and ceo of the company, and his daughter Vanisha, 24, is also on the board. The family's current holding of 88% of Mittal stock is set to drop to just above 50% if the deal is concluded. But the Mittals will continue to have a big controlling...
...hard to see why Mittal should feel so strongly about retaining family control. Money is in his name: Lakshmi is the Hindu goddess of wealth. But former neighbors say he was born almost penniless, growing up in Sadulpur, a small Rajasthani town in an area of thorn trees and sand dunes in western India, in a house built by his grandfather. The extended family of 20 lived on bare concrete floors, slept on rope beds and cooked on an open fire in the brick yard. "They didn't have any income," says Sushil Kumar Saraogi, 61, editor of the weekly...
...They belong to the Marwari caste, well-known in India for being traders and moneylenders who figure prominently in the leading business houses of India. The family left for Calcutta, a center of Marwari activity, where father Mohan Mittal became a partner in a steel company. Lakshmi graduated with a business degree from the élite St. Xavier's College in 1969 and joined his father's firm before branching out on his own. "He was very strong in numbers," recalls Sisir Bajoria, a fellow Xavier's student. Mittal split from his father and two younger brothers...