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Mittal hires John Ashcroft as lobbyist

The world's top steelmaker Mittal Steel has hired former United States Attorney General John Ashcroft to assist in the company's bid to take over European rival Arcelor.

DNA Web Team

Updated : Sep 14, 2017, 03:33 PM IST

PARIS: The world's top steelmaker Mittal Steel has hired former United States Attorney General John Ashcroft to assist in the company's bid to take over European rival Arcelor, a Mittal spokesman said on Friday.

"Mr Ashcroft was recruited by Mittal and he will be paid by Mittal to do lobbying," the spokesman said, confirming a report in Friday's International Herald Tribune.

Mittal did not say exactly what Ashcroft's role would be in the hostile takeover attempt, which has prompted regulatory reviews and defensive maneuvers on the part of Arcelor.

Ashcroft told the newspaper that Arcelor's preemptive merger with the Russian group Severstal causes "serious questions to be raised" about the company's commitment to corporate governance.

After resigning the justice portfolio at the end of 2004, Ashcroft founded a lobbying firm, Ashcroft Group, which maintains a great deal of influence with his former offices, he said.

Arcelor will need a green light from the US Justice Department, which reviews questions regarding competition, for its announced merger with Severstal.

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