Mittal Steel CEO Mr LN Mittal said that he had no plans to raise his EUR 19 billion offer for Arcelor SA or make a all cash bid, and was confident that Luxembourg would not try to scuttle the deal. “Our offer is a very attractive offer because we offer the shares,” he said. “We are anticipating the growth of the company, the merged company will have more growth potential benefits because of the synergies.” Mr Mittal also said he was confident the Luxembourg government would not take any decision to “frustrate this transaction” despite moves by the country’s Chamber of Commerce to change its takeover laws.
