WW Oil & Gas Inc. has received a takeover offer from Paco Oil & Gas Inc. Paco is a junior oil and gas firm operating in the State of Texas, US with similar projects and business activity relative to the operations of WW Oil & Gas Inc.
Arcelor chairman Mr Joseph Kinsch said the group is ready to reconsider any takeover offer from Mittal Steel made entirely in cash, instead of the current cash and share bid.
After a board meeting held on 29 January Arcelor has rejected Mittal’s bid, which it regards as hostile.
ThyssenKrupp AG has decided not to submit a higher offer to purchase Dofasco Inc.
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.
ThyssenKrupp has agreed to increase its cash offer for Dofasco Inc. to CAD 68.00 per share.