DOJ Scruitinizing Mittal Steel’s Hostile Bid for Arcelor

The Justice Department’s antitrust division has begun investigating Mittal Steel’s $23 billion hostile bid for Luxembourg-based Arcelor, according to the lead story in today’s Financial Times. With the deal already being roundly criticized by European authorities, any U.S. opposition could create insurmountable regulatory hurdles for Mittal, already the world’s largest steel company.