Word: mittal
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Dates: during 2000-2009
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...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...
...Steelmaker and World Shaker Why are Europeans so upset over Mittal Steel's bid to merge with Arcelor [Feb. 13]? Where I come from, Western companies have gobbled up local firms - and entire industries, for that matter - and that's supposed to be just fine. It's disturbing to see that when someone from the developing world tries to set foot in the West, the move is always met with convoluted and unfounded criticism. The West has got to recognize that globalization, formerly a one-way street, now carries heavy traffic from the East. I guess that is what laissez...
...Although I hold no brief for Mittal, the tone of the Europeans in this whole affair is decidedly racist. Let us not forget that "new" India has a civilization several centuries older than "old" Europe's. A little competition seems to bring out the worst in some people! Vandana Joshi Accra, Ghana...
...irony of this fight is that Mittal and Dollé both share a similar vision about the future of steel. Both are trying to build themselves up as Europe-based global titans, believing that a worldwide consolidation is necessary to bring stability and sustainability to a volatile industry. Mittal has long argued that the industry's future will brighten if several huge players emerge from the scrappy pack of smaller firms. "Steel will always remain a cyclical industry," he told Time. "But if we are strong in financial health and stick with our principles and vision, we will reduce...
Despite the acrimony on display last week, Mittal says he remains "good friends" with Dollé. "I admire him as a leader. It's nothing personal." But dinner is dinner, and business is business...