Even if it were to win Dofasco's hand, Arcelor would lag some way behind.

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Alberto Gonzales' DoJ will likely focus on assets Arcelor would acquire as a result of its pending deal to buy Canada's Dofasco .

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But Mittal would then split off Dofasco , the company Arcelor won earlier this week after a heated bidding war for 3.95 billion pounds.

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On Wednesday, the U.S. Federal Trade Commission, which also casts its eye over deals on antitrust grounds, approved plans by Arcelor to acquire Dofasco, and took no regulatory action.

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If Mittal wins its bid for Arcelor, it has undertaken to sell Dofasco to the German firm, perhaps not relishing the prospect of absorbing two new firms into its existing business.

ECONOMIST: Lakshmi's gamble | The

What happens to Dofasco?

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