Arcelor says met with Mittal, more talks to come

Arcelor and Mittal, the world's two largest steel companies, have begun talks about a possible takeover, Arcelor said, more than four months after rejecting Mittal's overtures.

To ward off Mittal, the Luxembourg-based company penned a merger deal with Russian peer Severstal, but in the past week a shareholder rebellion has been brewing over fears of who would ultimately control Arcelor.