Skadden, Cleary wrap up Mittal purchase

After what has been one of the most tempestuous courtships of recent times, Mittal Steel has finally succumbed to Arcelor. The deal has been an epic battle for the companies and, of course, their law firms. Mittal, advised by Cleary Gottlieb Steen & Hamilton, first approached Arcelor at the end of January. Arcelor, advised by a Skadden Arps Slate Meagher & Flom team, led by partner Scott Simpson, then set about fending off Mittal’s unwanted advances, including finding an alternative suitor in the form of Russia’s Severstal, advised by Allen & Overy. But last week, Arcelor finally agreed to Mittal’s E26.9bn (£18.58bn) offer. But the saga is not over yet. With shareholders still to vote in favour of the bid and questions over what happens to Arcelor subsidiary Dofasco, more firms look set to be dragged into this affair.