ArcelorMittal (MT) rejected the Italian government’s proposal to acquire a controlling stake in Acciaierie d'Italia (“ADI”), a major steel plant in Europe formerly known as Ilva, according to a statement from the cabinet, as reported by Reuters yesterday.A confidential source informed Reuters that placing the financially struggling site under special administration might be the only viable option to prevent its closure. ArcelorMittal currently holds a 62% stake in ADI, while the remaining 38% is owned by th ...