ThyssenKrupp quits Dofasco bidding race

The Executive Board of ThyssenKrupp AG has decided not to submit a higher offer to purchase the Canadian steel manufacturer Dofasco Inc., as an offer of more than CAD 68 per share would go beyond the point of creating economic value. ThyssenKrupp is thus waiving its "right to match".
ThyssenKrupp will systematically implement the global growth strategy of its Steel segment. The first step is the resolved construction of a 4.4 million metric ton capacity slab plant at the low-cost coastal location of Sepetiba in Brazil. When presenting the plans to build a slab plant in Brazil, ThyssenKrupp announced that part of the capacity would be used as starting material for realizing its strategy in North America. Besides the acquisition of Dofasco, the alternative planning scenarios are a "new mill" or "alliances". After giving up the Dofasco option, ThyssenKrupp will now further pursue these alternatives.

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