It is______ that took the initiative in the merger?

After 9 hours of intense discussion in Luxemburg, directors of the European steel manufacturer Arcelor have decided to accept a partnership offer from the world’s biggest steel company Mittal Steel. The deal brings to an end months of acrimonious negotiations aimed at merging the world’s 2 largest steel manufacturers. Together Mittal Steel and Arcelor will produce almost 10 percent of world output.