Amidst the planned agreement of partnership with Arcelor, the Mittal family was rumored to lower its voting rights from 10-2 down to 2-1. This step would enable the Mittal clan to earn the support of many large investors and to still maintain a large percentage of voting stake. The leading steel company though denied those reports and stated that it would not precede the possible result of its negotiations with Arcelor, which is based in Luxembourg. The partnership though encountered several disapprovals thus causing the stocks of both companies to decrease.

A month ago, Whirlpool Corp. also disclosed its negotiations in order to buy Maytag Corp. Although both companies have not yet arrived at a decision, the proposed agreement has been opposed by the anti-trust division of the Justice Department. Recently, the sector has begun focusing its attention to the laundry appliance industry. Lawyers from the anti-trust department have initiated the process by gathering the testimonies of various rival companies regarding the possible impact of the merging to the entire appliance market. The deal would amount to $1.7B thus giving birth to the largest appliance manufacturer in the global market. Due to the opposition, the shares of both companies decreased.

Nike Inc. which is the number one athletic shoe producer worldwide, was rumored to buy Puma. The company denied the reports though and further supported its statement by saying that it expects more developments and expansion in its own products particularly with goods related to soccer sports. Nike, which would be sponsoring the 2006 World Cup in Germany, said that it would launch a wider advertising campaign compared to its efforts during the World Cup in Asia in 2002.

Automobile Companies Seek Ways to Stabilize and Improve Their Market

Although a decline is expected in the car industry next year, automakers are moving to stabilize and improve their sales and profits. Particularly, DaimlerChrysler, the 5th largest car industry worldwide, expressed its positive outlook regarding its business. Earlier this year, the automaker released its latest goods and empowered its competitiveness in certain areas. The company is expecting its sales to increase in 2007 and 2008.