Tag: Arcelor

The United Steelworkers International Union has expressed support for Mittal Steel’s proposal to merge with Arcelor.

After a board meeting held on 29 January Arcelor has rejected Mittal’s bid, which it regards as hostile.

Arcelor has taken note of the hostile takeover bid launched by Mittal Steel on Arcelor shares with the goal to acquire a controlling stake in the company.

Dofasco Inc. has advised that, notwithstanding Mittal Steel offer to buy Arcelor, Arcelor is committed to pursuing its acquisition of Dofasco at a price of CAD 71 cash per share pursuant to its obligations under the Support Agreement between Arcelor and Dofasco.

Dofasco and Arcelor have announced they have signed an agreement for Arcelor to make a revised all-cash offer to acquire all of Dofasco’s outstanding common shares for CAD 71.00 per common share.

Dofasco has received an unsolicited proposal from Arcelor SA to amend Arcelor’s CAD 63 offer of 30 December 2005, to acquire all of Dofasco’s outstanding common shares at an increased offer price of CAD 71 per common share.

Dofasco Inc. has announced that at a meeting of the company’s Board of Directors, directors unanimously approved deferring the separation of the Rights under the terms of Dofasco’s Shareholder Rights Protection Plan, in respect of the Arcelor Offer for Dofasco’s common shares announced 23 December 2005.

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 SA will be making an all cash take-over bid for all of the outstanding common shares of Canadian steelmaker Dofasco Inc. for CAD 56.00 per share.

Arcelor has entered into a definitive agreement with two Brazilian pension funds over the acquisition by Arcelor of Acesita SA common shares.