Business
Dofasco terminates support agreement with ThyssenKrupp
Dofasco terminates support agreement with ThyssenKrupp.
About this update from Playgon Games, Inc.
[{"type":"text","content":"\n\n\n\n\nHAMILTON, ON, Jan. 23 /CNW/ - Dofasco Inc. announced today that the\ncompany's Board of Directors unanimously agreed to terminate the support\nagreement between ThyssenKrupp AG and Dofasco pursuant to ThyssenKrupp's\nannouncement that it has waived its right to match the offer of C$71 per\ncommon share made by Arcelor S.A.\nUnder the support agreement between ThyssenKrupp and Dofasco, a break fee\nof C$215 million has become payable upon such termination.\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":1432,"tagName":"div"}]