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Mittal Group Eyes Burren Energy Assets: Report

Steel baron Lakshmi Mittal may be assessing a bid for Burren Energy, the Economic Times said on Thursday, shortly after Italian oil major Eni dropped a possible $3.5 billion bid for the British oil producer.

Mittal's group, which includes the world's largest steelmaker Arcelor Mittal, is expanding in the energy sector and is evaluating options to acquire Burren's assets, it said, citing investment banking sources.

"Burren Energy... has been on Mittal's radar and a bid at some point cannot be ruled out," the newspaper cited a source as saying.

A Mittal official declined comment, the paper said.

Burren said last month it had received a number of takeover approaches, and Eni has said it reserved the right to resume bid talks if another bidder emerged or if invited by Burren's management.

South Korea's state-run Korea National Oil Corp has said it was one of the other parties who had expressed bid interest.