Mittal Steel, the world's biggest steel manufacturer, which made a $28.7 billion bid for acquiring Luxembourg-based Arcelor, on Friday said it has received US antitrust clearance for the said bid.
However, regulators were still examining an area of overlap between the companies' businesses in North America, the company said in a statement posted in its Web site.
In the statement, Mittal Steel pledged to sell Dofasco Inc. to ThyssenKrupp if required to do so as per an agreement with ThyssenKrupp concluded on January 26.
"If Mittal Steel is unable to sell Dofasco to ThyssenKrupp due to Arcelor's transfer of its Dofasco shares to the S3 Stitching, Mittal may instead resolve any competitive concern by selling an alternative asset."
"Mittal Steel believes that a divestiture of the alternative asset would have no adverse effect on Mittal Steel's sales or operations, particularly in the light of the related retention of Dofasco," the statement added.
© 2025