ArcelorMittal is bidding for Ilva Taranto in a consortium together with Italian re-roller Marcegaglia and bank Intesa Sanpaolo. It has submitted an additional bid of €1.60 billion ($1.72 billion) for the Italian steelmaker Ilva Taranto, on top of the
€2.30 billion ($2.47 billion) investment proposed on March 6.
“While ArcelorMittal has noted that they view the acquisition of Ilva as a value accretive rather than solely defensive move, we are hopeful ArcelorMittal's acquisition of Ilva could drive a notable improvement in regional price discipline and price realisation,” according to Jefferies.
ArcelorMittal’s market share in the European flat steel market should rise...
