Mittal intends to announce bid for Arcelor

Mittal intends to announce bid for Arcelor

Mittal Steel, the world's largest steelmaker, is reportedly expected to announce a bid for Arcelor, the world's second largest steelmaker, in an effort to provide consolidation in the steel industry. Although the bid price has not been revealed yet, Arcelor reportedly has a value of Euro 18.2 billion, including Euro 2.6 billion debt. As reported by SteelOrbis, Arcelor has recently won the bidding war for Canada's Dofasco and news regarding Mittal's plan to offer a bid for Arcelor came afterwards. Both companies have reportedly not made any comments on this issue.