ArcelorMittal says calling off acquisition of Italy's Ilva

Steel giant ArcelorMittal said Monday it was pulling out of the purchase of struggling Italian group Ilva after Italy's parliament removed legal protection deemed necessary to undertake crucial environmental work without criminal liability.

Ilva's Taranto site in southern Italy is at the center of a huge legal case in which experts cited by prosecutors have said that of the 11,550 people who died in the area over seven years, 7,500 were killed by cardiovascular and respiratory diseases and cancers linked to toxic emissions.