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Mittal rejected

MATERIALS IN BRIEF

Steelmaker Mittal upped its takeover bid for rival producer Arcelor last week.

Mittal offered to sweeten its £14 billion bid for the giant if it accepted Mittal's takeover, but Arcelor boss Guy Dolle said: 'A marginal improvement on an insufficient offer still makes an insufficient offer.' The improvements centred on voting rights and board positions in the enlarged company.