Arcelor SA and Dofasco Inc. have announced that 69,563,143 common shares of Dofasco, including shares deposited by guaranteed delivery, representing 88.38% of the Dofasco common shares outstanding on a fully-diluted basis, were deposited to Arcelor’s offer to acquire all of the outstanding common shares of Dofasco for CAD 71.00 in cash per Dofasco common share by the expiry time of the offer on 20 February 2006. With all of the conditions of the offer now being satisfied, Arcelor’s wholly-owned subsidiary, 4313267 Canada Inc., has taken up all of the Dofasco common shares that were deposited to the offer. Payment for such Dofasco common shares is expected to be made on or prior to 23 February 2006. Arcelor has extended the expiry time of the offer to 8:00pm (Toronto time) on 7 March 2006. Arcelor intends, as soon as permitted, to acquire the remaining Dofasco common shares by means of a statutory compulsory acquisition procedure under the applicable provisions of the Canada Business Corporations Act at the same price as the offer price. Arcelor also intends, upon acquiring a sufficient number of Dofasco common shares, to de-list the common shares from the Toronto Stock Exchange.
