In headlines this morning: Mittal’s starting to bend and a Berkshire portfolio company could reap $1.7 billion.
The world's top steelmaker, Mittal Steel Co. NV, said Tuesday, it would be willing to alter the terms of its $25 billion cash-and-shares offer for Arcelor SA but only if the target goes along with the bid. Mittal issued a statement in response to word from Arcelor’s chief executive, Joseph Kinsch, that he’s willing to deal, but only given information about the proposed company’s structure.
In other news, Acosta Sales & Marketing Co., a food brokerage business that advertises brands like Smucker’s and New World Pasta, could reap 10 times Ebitda, sources say. Goldman, Sachs & Co. is shopping the Florida-based company, while some likely bidders include Madison Dearborn Partners LLC and Carlyle Group.
Coming up in The Daily Deal midday PDF and on TheDeal.com: Oil-products marketer TransMongtaigne Inc. plans to accept a buyout offer from Morgan Stanley and scrap a merger agreement with SemGroup; Merrill Lynch & Co. shops U.S. Government-owned Frontier Airline Holdings Inc.; and Sara Lee unloads another unit.—Carolyn Murphy
Mittal may lift Arcelor bid
Acosta sale could land $1.7B
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