Arcelor keeps silent on BlueScope bid

Arcelor keeps silent on BlueScope bid

Luxembourg-based steel producer Arcelor has declined to comment on the speculations that the company may bid for Australian steel producer BlueScope Steel. The Australian company is stated to be worth A$6.6 billion ($5 billion). Moreover certain analysts claim that Arcelor is unlikely to bid for BlueScope Steel, as the company focuses on automotive steel production, whereas BlueScope focuses on construction steel production.