Arcelor SA has announced its intention to make an enhanced all-cash offer to acquire all of the outstanding common shares of Canadian steelmaker Dofasco Inc. at CAD 63.00 per share. Arcelor expects that the Board of Directors of Dofasco will recognize that this offer is superior to ThyssenKrupp’s offer. Arcelor is open to approaches by Dofasco’s Board of Directors and / or another party to finalize the acquisition at this attractive price level for the Dofasco Shareholders.
Guy Dollé, Chief Executive Officer of Arcelor, reiterated that "Expansion into North America is a key strategic objective for Arcelor. We believe that Arcelor is an excellent partner for Dofasco. As a partner of the Arcelor group, Dofasco will become a stronger, more competitive steel producer on the North American steel market."
Mr Dollé also underlined that Dofasco’s highly regarded corporate values with respect to its relations with employees, and its legacy of active community engagement, are principles that Arcelor shares and will continue to support.
