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Access here alternative investment news about Arcelormittal Sweetens Bid For Essar Steel, Offers To Pay Rs 420 Billion | Business Standard News
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Arcelormittal Sweetens Bid For Essar Steel, Offers To Pay Rs 420 Billion | Business Standard News

by business-standard.com posted 2months ago 18 views
Lenders seek legal opinion on ArcelorMittal's 'commitment': The world’s largest steelmaker, ArcelorMittal, on Monday increased its offer for Essar Steel to Rs 420 billion, in a bid to trump the Rs 370-billion offer made by Numetal-JSW Steel. The L N Mittal-owned company also moved the Supreme Court (SC) appealed to stay the National Company Law Appellate Tribunal (NCLAT) order, which asked ArcelorMittal to first pay the dues of two defaulting companies to become an eligible bidder for Essar Steel. The matter will be mentioned Tuesday morning in court; rival bidder Numetal had filed caveats on Friday.

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