This case study analyzes the corporate governance aspects of the ArcelorMittal merger, focusing on the hostile takeover by Mittal Steel. The assessment examines the pre-merger and post-merger board structures, highlighting the shift in power dynamics and the dominance of the Mittal family. It discusses the impact of these changes on decision-making, transparency, and shareholder rights. The analysis further explores the role of institutional investors in corporate governance, particularly their limited influence in the ArcelorMittal context due to Mittal's controlling stake. The case study reviews the concerns of minority shareholders, the importance of independent directors, and the implications of potential conflicts of interest. The study concludes by assessing the overall effects of the merger on corporate governance practices, emphasizing the need for adherence to regulations, stakeholder engagement, and ethical business conduct.
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