(A) First, Shareholder activism is increasing in a continent where recently it was depressingly rare.

(B) It was taken over by Mittal, a Dutch-registered company run from London by biggest single shareholder, Lakshmi Mittal, an Indian who started his first business in Indonesia.

(C) Second, and most important, the Arcelor -Mittal deal demonstrates Europe’s deepening integration into the global economy.

(D) The takeover battle raged for six months before Arcelor’s bosses finally listened to shareholders who wanted board to accept Mittal’s third offer. The story tells us two things about European business and both positive.