Arcelor SA announced on 30 January that the Notice of Variation and Extension increasing Arcelor’s offer for Dofasco to CAD 71.00 was being mailed that day to Dofasco shareholders. Arcelor had announced on 16 January 2006 its increased offer price to CAD 71.00 per share and it is now also extending the expiry date of its offer to 9 February 2006 in
order to ensure that Dofasco shareholders receive the Notice of Variation and Extension in sufficient time and in compliance with Canadian securities law. The Notice of Variation and Extension includes confirmation that the Dofasco Board is now unanimously recommending to Dofasco shareholders that they accept the Arcelor offer. On 24 January 2006, Arcelor and Dofasco issued a joint press release announcing an agreement for Arcelor to make a revised all-cash offer to acquire all of Dofasco’s outstanding common shares in a supported, all-cash transaction for total consideration of approximately CAD 5.6 billion or CAD 71.00 per common share and that Dofasco’s Board of Directors had resolved to unanimously recommend to Dofasco shareholders that they accept Arcelor’s offer.
