Thursday, June 15, 2006

Mittal discussed value of bid with Arcelor

Lakshmi Mittal said on Thursday talks with rival Arcelor on a possible takeover were going well and included discussions about the value of the deal.Arcelor has been against Mittal’s bid, valued at more than 21 billion euros ($26.47 billion), since the world’s largest steelmaker first announced its intentions more than four months ago, and instead wants to tie up with Russian steel company Severstal .

“We’ve already had a meeting and we will have another … so far discussions are satisfactory,” he told Belgian lawmakers at a reception at the country’s upper house.

More at Money Central

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