Nerves Of Steel

When one of the richest men in the world invites you to a private dinner at his gorgeous $128 million London home, who would be so churlish as to refuse, even if he is your biggest business competitor? Guy Dollé says he had no reason to suspect that the Jan. 13 invitation from Lakshmi N. Mittal would be the prelude to a hostile takeover bid that last week sent half of Europe into a frenzy.

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Dollé, 63, is chief executive of Luxembourg-based Arcelor, Europe's biggest steel company, measured by revenue, which was formed in 2002 out of what was...

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