Japan's Nippon Steel President Akio Mimura said on Thursday that its technology tie-up agreement with Arcelor includes a clause that allows either party to terminate the contract in case of a change of company control.
Mimura said “Technology is an important asset for Nippon Steel. However, we have not decided how to use this clause yet”.
Arcelor produces steel for cars using Nippon Steel's technology and sells them mainly to Japanese automakers operating in
Europe.
Arcelor is trying to fight against the Mittal Steel's takeover bid.