Mittal offers 40.37 euros/share for Arcelor-source
LONDON, June 25 (Reuters) Mittal Steel has put forward an improved 40.37 euros per share takeover offer for Arcelor, a source close to the situation said today.
The offer would value Arcelor at 25.8 billion euros (32.5 billion dollars).
Arcelor and Mittal, the world's two largest steel producers, have held talks to end a bitter five-month feud over Mittal's unsolicited plans to acquire its rival and create a global giant with an annual output over three times that of any competitor.
REUTERS KD RN2220
Story first published: Monday, June 26, 2006, 19:30 [IST]