Reuters - Embattled steel firm Arcelor ruled out running into the arms of a white knight to fend off a $24 billion takeover attempt as its chief executive softened earlier criticisms of Indian-born steel magnate Lakshmi Mittal.

Reuters - Arcelor , the world's number-two steel maker, raised its offer for Canada's Dofasco to C$5.5 billion (US$4.74 billion), outbidding Germany's ThyssenKrupp in one of Europe's hottest bidding wars.

Reuters - Dofasco said on Tuesday it continues to support a takeover offer from Germany's ThyssenKrupp , which has sweetened its takeover bid for the Canadian steelmaker.