Cold Steel

This book tells the story of the $38 billion merger between Mittal Steel and Arcelor in 2007. It was more exciting than expected as it detailed the murky parts of M&A deals involving wire tapping, regulators and strategy. The authors’ well researched book brings the story to life and is a good read for anyone interested in complex international deals.

The book starts off describing Lakshmi Mittal's background and how he built Mittal Steel, the largest steel company at the time. His vision for a consolidated steel industry led him to bid for Arcelor, and the book clearly described the ensuing battle's various meetings, strategies and decision making by both sides. It was also interesting to see how investment banks and PR firms played a critical role in the deal.

Although the steel industry isn't the most exciting, it was still an interesting read especially in the light of the recent attempted acquisition of US Steel by Nippon Steel.