Arcelor’s board of directors will decide the fate of Canadian steelmaker Dofasco, according to Mittal Steel CFO Aditya Mittal. The original Mittal Steel bid for Arcelor in January envisaged selling Dofasco to ThyssenKrupp (TK), a move that was widely interpreted as a means of helping to fund the takeover. Earlier Arcelor had agreed an approved takeover deal with the Dofasco board, which itself trumped an agreed takeover bid by TK. Aditya Mittal told a joint Arcelor-Mittal press conference on 26 June: “There is a binding agreement to sell Dofasco and we have had long discussions with Arcelor management. Arcelor believes it is not in their interests to sell, so we have agreed to disagree.”
