Deals
ArcelorMittal, Nunavut Team Up to Bid for Baffinland
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ArcelorMittal, the largest producer of steel, joined with Nunavut Iron Ore Acquisition Inc. in a bid for Baffinland Iron Mines Corp. valued at about C$590 million ($596 million) that seeks to end a three-month takeover battle.
The two companies offered C$1.50 a share for 100 percent of Baffinland, Luxembourg-based ArcelorMittal said in a statement today. Nunavut previously bid C$1.45 a share for 60 percent and ArcelorMittal C$1.40 apiece for the entire company.