Mittal gets green signal from Canadian Bureau

London, June 9: The Canadian Competition Bureau has confirmed that it will not challenge the bid by Mittal Steel to acquire Arcelor, a Mittal Steel statement said here.

Along with the granting of EU antitrust clearance on June 2 and the expiry of the waiting period under the US Hart-Scott-Rodino Antitrust Improvements Act of 1976 on May 11, this clearance is being seen as an important turn in the ongoing bidding process.

Describing the clearance as unconditional, the company said, no offer to exchange or purchase any Arcelor shares or convertible bonds has been or will be made in the Netherlands or in any jurisdiction other than Belgium, France, Luxembourg, Spain and the United States.

UNI