Govt okays L N Mittal`s Rs 503 cr FDI for Uttam Galva buy

The government has approved NRI
billionaire Lakshmi Mittal-led ArcelorMittal`s over Rs 500
crore foreign direct investment for acquisition of 35 per cent
stake in steel products maker Uttam Galva.

ArcelorMittal`s open offer for Uttam Galva may get delayed

ArcelorMittal`s bid to acquire additional stake in Uttam Galva through an open offer may get
delayed in the wake of pending regulatory clearances even as
it aims to complete the deal by mid-December.