Mittal delighted by shareholders' verdict

LONDON: Mittal Steel on Friday said it was delighted by the verdict that Arcelor shareholders handed out to its bid by rejecting an offer of merger from rival Severstal.

In a statement issued after the vote, Mittal Steel said it was "delighted that 57.9 per cent of all Arcelor shareholders voted down the Severstal proposal."

"This is another important step in completing the merger between Arcelor and Mittal. We would now urge shareholders to tender their shares into the Mittal Steel recommended offer by the closing date," spokeswoman Nicola Davidson said.