German steelmaker ThyssenKrupp AG is reconsidering its proposed acquisition of Canadian steel company Dofasco Inc. as part of a new corporate strategy, a board member said 1 March 2006. Mr Koehler said ThyssenKrupp‘s aim is to grow from a European steel company to a global one. To do that, it needs to gain a foothold and expand in the North American market. ThyssenKrupp originally had lost out to Arcelor SA in a bidding war for Dofasco. Last month, Arcelor said it had acquired 88.4% of Dofasco and planned to extend its USD 4.87 billion takeover offer through 7 March. Mittal, which has offered to buy rival Arcelor has said it plans to sell Dofasco to ThyssenKrupp if it acquires Arcelor.
