Shearman & Sterling is representing Ispat International N.V. in two major M&A transactions that will result in the world's largest steel company. Ispat International will acquire LNM Holdings N.V. for an estimated $13.3 billion in stock. Following the completion of the transaction, the company will be renamed Mittal Steel Co.

Simultaneously, Ispat International and International Steel Group Inc. announced that their boards of directors have unanimously approved a definitive merger agreement, with an estimated value of $4.5 billion. The combined Mittal Steel will be the largest and most global steel company in the world, with operations in 14 countries on four continents, a total of 165,000 employees and anticipated 2004 revenues of more than $31.5 billion. Both transactions are subject to shareholder and regulatory approval. For more information, see The Wall Street Journal.