Summary
French steel giant Arcelor has agreed to merge with Russian firm Severstal as it upped its opposition to a hostile bid from Mittal Steel.
Arcelor said the proposed deal with Severstal represented better value for shareholders than a tie-up with Mittal, which is majority owned by the UK's richest man, Lakshmi Mittal.See the full content of this document
Extract
Franco-Russian Core
The move came a week after Mittal offered a sweetener to Arcelor shareholders, an improved offe...
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