{"id":4248,"date":"2006-04-10T00:00:00","date_gmt":"2006-04-10T00:00:00","guid":{"rendered":""},"modified":"-0001-11-30T00:00:00","modified_gmt":"-0001-11-30T04:00:00","slug":"arcelor-woos-the-hedge-funds","status":"publish","type":"post","link":"https:\/\/staging.hedgeco.net\/news\/04\/2006\/arcelor-woos-the-hedge-funds.html","title":{"rendered":"Arcelor woos the hedge funds"},"content":{"rendered":"<p class=\"story\">  Around 30 per cent of Arcelor, the Luxembourg-based steel company defending itself against a hostile $24.4bn (\u00c3\u201a\u00c2\u00a314bn) cash and shares bid from Mittal Steel, is now owned by hedge funds, it emerged  last week.<\/p>\n<p class=\"story\">  The revelation means that hedge funds, rather than other large shareholders such as the Luxembourg government, hold the key to the deal. Hedge funds are typically footloose investors seeking  short-term profits.<\/p>\n<p class=\"story\">  Last week Arcelor sought to woo them by promising a \u00c3\u00a2\u00e2\u20ac\u0161\u00c2\u00ac5bn (\u00c3\u201a\u00c2\u00a33.4bn) cash return for shareholders. &#8220;By putting more cash on the table there is more incentive for them not to take the Mittal offer,&#8221; an  executive familiar with thinking at Arcelor said last week. &#8220;It encourages short-term investors to take a long-term approach.&#8221;<\/p>\n<p>  <a href=  \"http:\/\/www.google.com\/news\/url?sa=T&amp;ct=us\/5-0&amp;fd=R&amp;url=http:\/\/www.telegraph.co.uk\/money\/main.jhtml%3Fxml%3D\/money\/2006\/04\/09\/cnarce09.xml%26menuId%3D242%26sSheet%3D\/money\/2006\/04\/09\/ixcitytop.html&amp;cid=1105716276&amp;ei=7lU6RPOKCYWuoQLD5MSUBQ\">  <strong>Read Complete Article<\/strong><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Around 30 per cent of Arcelor, the Luxembourg-based steel company defending itself against a hostile $24.4bn (\u00c3\u201a\u00c2\u00a314bn) cash and shares bid from Mittal Steel, is now owned by hedge funds, it emerged last week. The revelation means that hedge funds, [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-4248","post","type-post","status-publish","format-standard","hentry","category-syndicated"],"_links":{"self":[{"href":"https:\/\/staging.hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/4248","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/staging.hedgeco.net\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/staging.hedgeco.net\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/staging.hedgeco.net\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/staging.hedgeco.net\/news\/wp-json\/wp\/v2\/comments?post=4248"}],"version-history":[{"count":0,"href":"https:\/\/staging.hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/4248\/revisions"}],"wp:attachment":[{"href":"https:\/\/staging.hedgeco.net\/news\/wp-json\/wp\/v2\/media?parent=4248"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/staging.hedgeco.net\/news\/wp-json\/wp\/v2\/categories?post=4248"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/staging.hedgeco.net\/news\/wp-json\/wp\/v2\/tags?post=4248"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}