
New $4.8B takeover bid for Dofasco CBC \|\| November 29, 2005 [KDR: Related Article: In the Last 20 Years 11,380 Canadian Companies Taken Over] German steelmaker ThyssenKrupp AG has bid $4.8 billion in cash in a friendly offer for Dofasco Inc., topping an earlier bid by Arcelor SA of Luxembourg. The board of Hamilton, Ont., based Dofasco (TSX:DFS) has approved ThyssenKrupp's $61.50-per-share bid and is recommending shareholders accept it. Dofasco shares closed Monday $4.86 higher at $63.98 on the TSX ($2.48 above the takeover bid), signalling that investors think the bidding war isn't over yet. Dofasco said the German firm's offer represents a 40 per cent premium on the closing price of Dofasco's shares on Nov. 22, the day before Arcelor made its all-cash bid of $56 per share. Article Posted at www.KnowledgeDrivenRevolution.com ThyssenKrupp's bid is 9.8 per cent higher than Arcelor's offer. "The significant premium being offered reflects the strategic value of Dofasco to ThyssenKrupp in accelerating the growth of the combined companies in North America," said Brian MacNeill, the chairman of Dofasco's board of directors. Dofasco said it employs about 11,000 people and had 2004 sales of $4.2 billion. Its German suitor has sales of roughly 39.3 billion euros and has a staff of about 184,000. The company has been operating in Canada since 1914, and currently employs about 4,270 people across the country. ThyssenKrupp's origins date back to 1811, when Friedrich Krupp established a cast steel plant in Essen, in western Germany. About KDR \| \| Home \| \| Weekly Features Archive	Weekly Weekly Features Archive
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New $4.8B takeover bid for Dofasco

CBC || November 29, 2005

[KDR: Related Article: In the Last 20 Years 11,380 Canadian Companies Taken Over]

German steelmaker ThyssenKrupp AG has bid $4.8 billion in cash in a friendly offer for Dofasco Inc., topping an earlier bid by Arcelor SA of Luxembourg.

The board of Hamilton, Ont., based Dofasco (TSX:DFS) has approved ThyssenKrupp's $61.50-per-share bid and is recommending shareholders accept it.

Dofasco shares closed Monday $4.86 higher at $63.98 on the TSX ($2.48 above the takeover bid), signalling that investors think the bidding war isn't over yet.

Dofasco said the German firm's offer represents a 40 per cent premium on the closing price of Dofasco's shares on Nov. 22, the day before Arcelor made its all-cash bid of $56 per share.

Article Posted at www.KnowledgeDrivenRevolution.com

ThyssenKrupp's bid is 9.8 per cent higher than Arcelor's offer.

"The significant premium being offered reflects the strategic value of Dofasco to ThyssenKrupp in accelerating the growth of the combined companies in North America," said Brian MacNeill, the chairman of Dofasco's board of directors.

Dofasco said it employs about 11,000 people and had 2004 sales of $4.2 billion. Its German suitor has sales of roughly 39.3 billion euros and has a staff of about 184,000. The company has been operating in Canada since 1914, and currently employs about 4,270 people across the country.

ThyssenKrupp's origins date back to 1811, when Friedrich Krupp established a cast steel plant in Essen, in western Germany.

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