ThyssenKrupp takeover bid

The Executive Board of ThyssenKrupp AG has resolved to submit a friendly takeover bid for a 100% interest in the Canadian steel producer Dofasco Inc. at a cash price of CDN 61.50 per share. The Supervisory Board by its Executive Committee (Präsidium) has already provided its approval. Prior to this, ThyssenKrupp and Dofasco reached agreement on the submission and the conditions of the takeover bid in the framework of a Support Agreement. The offer values Dofasco’s equity at a total of EUR 3.5 billion. The offer price represents a 40% premium over Dofasco’s closing share price on the Toronto stock exchange on 22 November, 2005, the day prior to the announcement of the hostile takeover bid by Arcelor for a price of CDN 5600 per share. It further represents a 9.8% premium over the Arcelor bid. ThyssenKrupp and Dofasco anticipate that the transaction can be completed before the end of first quarter 2006.

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