ISP Stockholders Approve Merger With Mittal

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Stockholders of International Steel Group voted to approve the proposed merger of ISG and Mittal Steel Company N.V. at a meeting today.

Holders of approximately 69.7% of ISG’s common stock were represented at the meeting in person or by proxy. Of the votes present at the meeting, approximately 99.6% were voted in favor of the proposed merger, representing approximately 69.4% of all shares entitled to vote on the proposal.

According to a Reuters article,

“In a show of hands, shareholders overwhelmingly voted in favor of Mittal Steel’s plans to acquire International Steel and merge it with other assets controlled by Indian-born steel magnate, Lakshmi Mittal.

And in New York, International Steel shareholders approved the deal in a lopsided proxy vote of 69.1 million in favor to 277,389 against. International Steel Chairman Wilbur Ross told shareholders the deal “will dramatically redraw the global steel map.”

Approximately 0.4% of the votes present at the meeting were voted against the merger, and the remainder abstained or were otherwise not voted.

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ISP Stockholders Approve Merger With Mittal
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