Arcelor plans merger with Russia's Severstal

By Staff

Published: Friday, May 26, 2006, 13:22 [IST]

BRUSSELS, May 26 (Reuters) Steelmaker Arcelor , fighting a hostile takeover offer from global sector leader Mittal Steel , plans to merge with Russia's Severstal , Arcelor said on Friday.

The deal would value Arcelor at 44 euros per share, a premium to the offer tabled by Mittal.

REUTERS CS KN1104

Published On May 26, 2006

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