ArcelorMittal increases offer for Baffinland of Canada

31st December 2010, Comments 0 comments

ArcelorMittal, the world's largest steel producer, said Friday it had increased by 27 percent its offer to buy Canadian mining company Baffinland to match a rival bid by Nunavut Iron Ore.

"The increased all cash offer (of 1.40 Canadian dollars per share) represents a premium of approximately 27 percent to ArcelorMittal's original offer price of 1.10 Canadian dollars per common share," the Luxembourg-based company said in a statement.

© 2010 AFP

0 Comments To This Article