ArcelorMittal and Japan’s Nippon Steel to jointly bid for Essar Steel

Reading Time: 2 minutes Post Views: 3,146 Two of the biggest steel companies in the world, ArcelorMittal and Japan’s Nippon Steel, are in plans to put jointly bid for bankrupt steelmaker Essar Steel, it is understood. Both the companies had initially planned to submit separate bids for Essar Steel. But according to sources, Nippon Steel and Lakshmi Mittal-led ArcelorMittal have decided to bid jointly for Essar Steel. According to the same sources, we gather that the final contours of the tie-up are being worked out. Interestingly, though Nippon Steel has deep pockets but it does…

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