TK facing uphill battle for control of Dofasco

Dec 27, 2006 | 02:46 PM | Mark Beveridge

ThyssenKrupp AG, Düsseldorf, Germany, will find it difficult to wrest control of Dofasco Inc. from Arcelor Mittal in the looming court battle between the two companies, analysts said.

The German steelmaker, which initiated a suit against Mittal Steel Co. NV in Holland Tuesday (AMM, Dec. 27), will have to show that its rival could have somehow done more to force the special foundation that controls Dofasco's shares to permit their sale.

This is not expected to be easy to prove, and Mittal Steel can legitimately claim to have done as much as it can, analysts said. "Mittal seems to be on reasonably strong legal ground," one analyst said.....

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