MOSCOW, July 21 (RIA Novosti) - World No. 2 steelmaker Arcelor has paid Severstal 140 million euros (about $180 mln) in compensation for a merger that fell through, Russia's No. 1 steelmaker said Friday.
Inked May 26, the deal was rejected by Arcelor's shareholders June 30 to clear the way for an agreed takeover of the Luxembourg-based company by the world's largest steel company Mittal Steel.
But Severstal said it would do everything it could to consolidate its position.
"We are considering new development options in line with the previously declared strategy toward leadership in the ferrous metals industry," the company said in a statement.
