Mittal Steel said on 13 June 2006 that it had no plans to improve the financial terms of its offer for Arcelor and said a proposal to improve its offer related only to corporate governance. It said in a statement “Mittal has not made any proposal to improve the financial terms of its offer and has no intention to do so. Mittal Steel would like to reaffirm that its proposal to further improve the offer in the context of a recommended transaction relates only to certain corporate governance initiatives designed to preserve and promote the Arcelor model.”
