ThyssenKrupp makes Dofasco bid

You may remember that last week Arcelor made an unsolicited bid for Dofasco. By the way, if you had shares in Dofasco, you’re doing well today. From just under 45 a week ago to just under 64 today (above the ThyssenKrupp offer).

Financial News – Yahoo! Finance

ThyssenKrupp, Germany’s biggest steelmaker, said it would offer C$61.50 per share of Dofasco.

The deal, which had been unanimously recommended by the board of Dofasco, was expected to close before the end of the first quarter of 2006, ThyssenKrupp said in a statement.

ThyssenKrupp said its offer represented a 9.8 percent premium over Arcelor’s bid for Dofasco on November 23. Luxembourg-based Arcelor, which is the world’s second-biggest steelmaker, had offered C$56 per share.

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