Brussels: Mittal Steel Co said that shareholders representing 0.54 percent of Arcelor SA's voting rights have so far accepted its takeover offer for the Luxembourg steelmaker that will form a steel titan with nearly 10 percent of global production.
In a regular weekly filing to the Spanish market watchdog CNMV, Mittal said the figure was an estimate of how many shareholders had agreed by June 30 to swap cash and Mittal stock for Arcelor equity.
Mittal's offer closes on July 13 and it must win at least half of the company's capital for its offer to succeed.
Few shareholders had tendered their shares amid speculation that Mittal might raise its offer again and Arcelor might have problems shedding a previous suitor, the Russian conglomerate Severstal.
Last week, Mittal made a higher offer, valuing Arcelor at €25.4 billion ($32 billion) and shareholders voted to ditch Arcelor's earlier plan to merge with Severstal.
Arcelor is now recommending the Mittal offer to holders, ending a bitter five-month battle.
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