One can hardly pick up a newspaper today without reading about new Acquisition or Merger transactions. Acquisition and Merger activity in the global mining industry is not only necessary but also desirable as consumers stand to be benefitted from industry consolidation in the way of better and more reliable service, product-quality and increased R&D efforts. We have already seen the impact of such activities in the steel industry, and more mergers and consolidations will certainly occur during the next five to ten years. Consolidation within the steel industry is unavoidable and even necessary. Changing technology and the emerging global steel industry will mandate that strategic combinations and capacity rationalization occur.
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