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BRUSSELS, Belgium (AP) - The finance committee in Luxembourg's national parliament unanimously backed changes to takeover rules Wednesday that could affect Mittal Steel Co.'s 19 billion euro ($23 billion) unsolicited buyout offer for Luxembourg-based Arcelor SA.
Officials said they expected the full parliament to pass the bill, which is meant to update Luxembourg's national takeover rules to fall in line with recent EU regulations, by the first week of April.
Last week, the Luxembourg Chamber of Commerce — headed by Arcelor Vice President Michel Wurth — suggested changes to takeover rules that would force Mittal to make an all-cash bid.
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