Mr Wilbur Ross a director of Mittal Steel confirmed on 26 May 2006 that Mittal Steel will not raise its offer for Arcelor. Mr Ross told Agence France-Presse âWe have no intention to raise our offer, because our offer is actually already clearly superior to that of the Arcelor-Severstal transaction.â? Earlier, a source close to Mittal Steel said it will not raise its offer for Arcelor because it is not a question of price but rather a mechanism that Arcelor put in place independently of the price issue to thwart Mittal Steel from succeeding with its bid.
