Arcelor agrees to discuss Mittal Steel bid

LN Mittal owned Mittal Steel has finally convinced the Arcelor board for a meeting to discuss their bid for a possible acquisition of the company.

The Luxembourg-based Arcelor said in a statement that they had a primary requirement of a business plan from Mittal Steel and they have received that.

They have a few questions about this plan, which they would discuss with the company at this upcoming meeting between the two companies.

Mittal Steel has in a statement said that they are looking forward to a “constructive discussion” with Arcelor.

Arcelor initially refused to the proposed deal offered by Mittal Steel and went ahead with a deal with Russia based Severstal. However, this merger plan has so far fanned concerns of shareholders and European regulators.