LNM puts in final bid on Nova Hut today

LNM puts in final bid on Nova Hut today

LNM is submitting its final bid today for a 67% share of the Czech steel producing firm Nova Hut. LNM is vice-chairman Aditya Mittal indicated he would pull out of the deal if the bid was not accepted based on a 67% share in the company. Several other firms are also bidding for Nova Hut. Meanwhile, LNM is now reviewing some details submitted by the Czech Republic's industry and trade minister related to the bid. Whether a final deal can be concluded depends on both parties coming to a compromise which won't be apparent for at least another week.