London: Mittal Steel said that it would adjust the cash part of its $25 billion offer for Arcelor to take account of Arcelor's higher than expected dividend.
Earlier, Arcelor had announced a plan to increase its dividend by 85 per cent to 1.2 euros per share.
Mittal Steel has said that a takeover of Arcelor would create all-round benefits for the enlarged group, but Arcelor has argued that the two companies have very different corporate cultures.
However, Arcelor said it had one of the best track records for health and safety issues in the steel industry, with the number of accidents at work steadily falling since the company was created in 2002.
On Wednesday, Mittal Steel submitted a road map on schedule of operation of proposed setting up its green field plant to the Jharkhand government.
It has identified three sites Bundu, Khunti and Saraikela to set up its high-tech plant with a capacity of 12 million tonnes in 12 phases in the state. It has set a timeframe of 72 months to begin its operation.
A meeting held on Tuesday between state government officials and Mittal Steel's India operations' Chief Executive Officer Sanak Mishra here discussed setting up the plant.
Mishra along with three other executives, who are currently on a week-long visit to the state, would also visit the proposed sites to finalise setting up of the plant.
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