Indian court rejects plea against ArcelorMittal's bid for Essar Steel

Indian court rejects plea against ArcelorMittal's bid for Essar Steel

Aerial view of blast furnace at Essar Steel in Hazira, Gujarat. Visual: Mint

An Indian court rejected on Thursday a petition challenging ArcelorMittal SA’s proposed takeover of debt-ridden Essar Steel, removing a hurdle in billionaire Lakshmi Mittal’s entry into the country’s fast-growing steel market.

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