Mittal Steel submits business plan to Arcelor

Mittal Steel submits business plan to Arcelor

Arcelor might have expressed its view in more than one way that they are not interested in a deal with Mittal Steel, but the latter is not budging from its stand.

Mittal Steel has now given its business plan to rival Arcelor who had previously said that they would not consider an acquisition proposal from Mittal Steel without such a document.

Arcelor has yet not commented on this new development as Mittal Steel Chief Executive for Europe Roeland Baan said in a statement: “They have now the business plan at their disposal.”

These two companies have been involved in a confrontation, which led to the announcement of a deal between Arcelor and Severstal. This was one of the many ways Arcelor is trying to shoo away Mittal Steel from acquiring them.

One of the primary steps mentioned in the document is that Mittal Steel has plans to sell off two Arcelor mills within a specified period after gaining control of the company.