ArcelorMittal to make $1 billion creditor payment to bid for Essar Steel

ArcelorMittal to make $1 billion creditor payment to bid for Essar Steel
ArcelorMittal SA said on Wednesday it would pay 74.69 billion rupees ($1.01 billion) to creditors of two Indian companies in which it previously held stakes, in order to make its acquisition offer valid for Essar Steel, another debt-ridden Indian steel firm.