European steel group Arcelor on Monday, dismissed a call to open talks with suitor Mittal Steel by a hedge fund known for its active participation in bid situations.
Hedge fund Atticus Capital said that it had written to Arcelor’s chief executive to express dissatisfaction with the company’s refusal to consider the $22 billion bid by Mittal Steel.
In New Delhi, French president Jacques Chirac said the concerns about the Mittal’s bid for Luxembourg-based Arcelor were legitimate, while prime minister Manmohan Singh said he hoped the decisions taken about the bid would be fair.
