It was taken over by Mittal, a Dutch-registered company run from London by its biggest single shareholder, Lakshmi Mittal, an Indian who started his first business in Indonesia.

Arcelor, established in Dutch, had been the largest European steel maker by 2006.

The Arcelor-Mittal deal demonstrates Europe's deepening integration into the global economy.

The takeover battle raged for six months before Arcelor's bosses finally listened to shareholders who wanted the board to accept Mittal's third offer.