Rabobank has become the fifth investment bank to back Mittal Steel's €18.6bn ($22.4bn) hostile offer for rival Arcelor.

Banking sources close to Mittal said that the Netherlands bank has a role providing "security in favour of the cash portion of the offer." A spokeswoman for Mittal declined to comment.

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US law firm hires private equity specialist from key client

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Dale Walsh will accelerate growth of the private bank and wealth management’s lending business

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Pedro Guazo, who joins in August, will also oversee the $1.3tn asset manager’s responsible investment platform globally

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Rabobank emerges on Mittal team

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