Arcelor increases offer for Dofasco acquisition
Luxembourg-based steelmaker Arcelor S.A. announced on Friday that it would increase its offer to buy all of the outstanding common shares of Canadian steelmaker Dofasco Inc to C$63 per share.
The offer is higher than
Germany's ThyssenKrupp AG's offer of C$61.50 per share.
Guy Dollé, CEO of Arcelor, said, "Expansion into
North America is a key strategic objective for Arcelor. We believe that Arcelor is an excellent partner for Dofasco. As a partner of the Arcelor group, Dofasco will become a stronger, more competitive steel producer on the North American steel market."
Arcelor will reveal full details of its offer in its formal take-over bid that is expected to be submitted in the coming days.