ARCELOR MITTAL RACES AHEAD

Arcelor Mittal is believed to have raced ahead in the race to acquire Mitsui’s 51% stake in Sesa Goa. Arcelor Mittal is believed to have put in a bid of about Rs 2,200 per share ahead of Aditya Birla group who has put in a bid of about Rs 2,000 per share. Arcelor Mittal, the world’s largest steel company is pitted against global majors such as Vedanta Resources and global mining major CVRD. If Arcelor Mittal succeeds in sealing the deal, it may even go for a complete buy out.

Courtesy: EconomicTimes