518 18 Takeover Defences
the merger at an extraordinary general meeting of shareholders held on 28 August
2007.^67 In the second step, ArcelorMittal and Arcelor S.A. merged.
Epilogue: Dofasco. In order to resolve certain US competition law concerns,
the US Department of Justice filed with the US District Court in Washington, D.C.
on 1 August 2006 a Consent Decree in which Mittal Steel agreed to use its best ef-
forts to sell Dofasco to ThyssenKrupp or, if Dofasco could not be sold due to the
Stichting, to sell certain alternative assets. The boards of Mittal Steel and Arcelor
formally requested that the Stichting dissolve and return the Dofasco shares to Ar-
celor. On 10 November 2006, the Stichting’s board refused. The prospects of
achieving the dissolution of the Stichting and the return of the Dofasco shares
against the wishes of the Stichting’s board were remote. One can say that this
takeover defence backfired.
(^67) Article 7 of Directive 78/855/EEC (Third Company Law Directive).