UPDATE 1-Nippon Steel:Arcelor pact has control change clause

Newswire

(Adds details) By Yuko Inoue TOKYO, Feb 23 (Reuters) - Nippon Steel Corp. said on Thursday its alliance with Arcelor , the target of $22 billion hostile takeover bid by Mittal Steel , allows either party to terminate the contract in case of a change of company control. Nippon Steel President Akio Mimura confirmed media reports earlier this month that the company could stop Arcelor from using technologies it has provided to the firm if Arcelor is taken over, although he added Nippon ...

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