
ThyssenKrupp may get Dofasco in surprise steel-sector takeover CBC \|\| January 30, 2006 [KDR: Do we want one company having this much control over steel production?] Mittal Steel Co., the world's biggest steel company, has launched a $22.8-billion US offer for main rival Arcelor SA of Luxembourg – a deal that could see Canada's Dofasco Inc. change hands again. The surprise offer on Friday means Germany's ThyssenKrupp AG could still wind up with Dofasco despite being outbid for the Hamilton-based company. Arcelor recently won the bidding war for Dofasco when ThyssenKrupp dropped out. Arcelor has agreed to pay $71 per share for Dofasco. However, Mittal now says it has agreed to sell Dofasco to ThyssenKrupp for about $68 per share – the value of ThyssenKrupp's last offer before it quit the bidding. Article Posted at www.KnowledgeDrivenRevolution.com A Mittal-Arcelor union would create a steel-sector giant capable of producing 100 million tonnes of steel. The merged firm would have a market capitalization of about $40 billion US. Mittal's bid values Arcelor at $24.50 US. Investors in Arcelor will get four Mittal shares and $30.61 US in cash for every five Arcelor shares they hold. "Arcelor underlines the hostile character of this move that takes place without prior discussions or consultations between both companies," the company said in a release. Arcelor's board of directors will meet shortly to take a position on the Mittal offer. Shares of Dofasco slipped 24 cents, closing at $70.26 on the TSX. About KDR \| \| Home \| \| Weekly Features Archive	Weekly Weekly Features Archive
In Depth The Number 1 Reason YOU became a Slave Knowledge Driven Look at Your Favourite Canadian Political Parties
Archive November December January 2005 01 02 03 04 05 06 07 08 09 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 01 02 03 04 Weekly Features

ThyssenKrupp may get Dofasco in surprise steel-sector takeover

CBC || January 30, 2006

[KDR: Do we want one company having this much control over steel production?]

Mittal Steel Co., the world's biggest steel company, has launched a $22.8-billion US offer for main rival Arcelor SA of Luxembourg – a deal that could see Canada's Dofasco Inc. change hands again.

The surprise offer on Friday means Germany's ThyssenKrupp AG could still wind up with Dofasco despite being outbid for the Hamilton-based company.

Arcelor recently won the bidding war for Dofasco when ThyssenKrupp dropped out. Arcelor has agreed to pay $71 per share for Dofasco.

However, Mittal now says it has agreed to sell Dofasco to ThyssenKrupp for about $68 per share – the value of ThyssenKrupp's last offer before it quit the bidding.

Article Posted at www.KnowledgeDrivenRevolution.com

A Mittal-Arcelor union would create a steel-sector giant capable of producing 100 million tonnes of steel. The merged firm would have a market capitalization of about $40 billion US.

Mittal's bid values Arcelor at $24.50 US. Investors in Arcelor will get four Mittal shares and $30.61 US in cash for every five Arcelor shares they hold.

"Arcelor underlines the hostile character of this move that takes place without prior discussions or consultations between both companies," the company said in a release.

Arcelor's board of directors will meet shortly to take a position on the Mittal offer.

Shares of Dofasco slipped 24 cents, closing at $70.26 on the TSX.

About KDR | | Home | | Weekly Features Archive

Weekly

Chicken Little Terrorist: Creating Fake Terrorists

Weekly Features Archive

In Depth

The Number 1 Reason YOU became a Slave

Knowledge Driven Look at Your Favourite Canadian Political Parties