Business
Dofasco receives notification that ThyssenKrupp will not match Arcelor's $71 per share offer
Dofasco receives notification that ThyssenKrupp will not match Arcelor's $71 per share offer.
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[{"type":"text","content":"\n\n\n\n\nHAMILTON, ON, Jan. 23 /CNW/ - Dofasco Inc. announced today that it has\nreceived notification from ThyssenKrupp AG that it does not intend to exercise\nits right under its existing support agreement with Dofasco to match the offer\nof C$71 per common share made by Arcelor S.A. on January 16, 2006.\nThyssenKrupp will maintain its offer price of C$68 per common share and not\nextend the expiry date of its offer beyond January 26, 2006.\nArcelor has entered into an irrevocable agreement with Dofasco to acquire\nall of Dofasco's outstanding common shares at an offer price of C$71 per\ncommon share. Arcelor's offer expires on February 8, 2006.\n\nDofasco is a leading North American steel solutions provider. Product\nlines include hot rolled, cold rolled, galvanized, Extragal(TM), Galvalume(TM)\nand tinplate flat rolled steels, as well as tubular products, laser-welded\nblanks and Zyplex(TM), a proprietary laminate. Dofasco's wide range of steel\nproducts is sold to customers in the automotive, construction, energy,\nmanufacturing, pipe and tube, appliance, packaging and steel distribution\nindustries.\n\nThis News Release contains forward-looking information with respect to\nDofasco's operations and future financial results. Actual results may differ\nfrom expected results for a variety of reasons including the factors discussed\nin the Management's Discussion and Analysis section of Dofasco's 2004 Annual\nReport and the Quarterly Reports to Shareholders for the periods ended\nMarch 31, 2005, June 30, 2005 and September 30, 2005.\n\n\n\n","length":1612,"tagName":"div"}]