Mittal faces pressure to up Arcelor bid

The world's biggest steelmaker Mittal faced further pressure to raise its EUR 23 billion bid for rival Arcelor after Russian suitor Severstal improved its friendly merger offer, reports Reuters.

Directors from Arcelor were gathering in Luxembourg on Wednesday, home of the world's second largest steelmaker to discuss which of its suitors in the five-month-old battle would make the best match.

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