ArcelorMittal SA approved for Baffinland acquisition

Dec 14, 2010 | 06:52 AM |

ArcelorMittal SA has received required regulatory approvals to purchase all the shares of Baffinland Iron Mines Corp., which owns the Mary River property in Canada's Nunavut territory.

The Luxembourg-based steelmaker said it is offering Canadian $1.10 ($1.09) per share—a 15.8-percent premium from the Nov. 5 closing price of 95 cents per share—valuing the property at C$433 million ($432 million) (AMM, Nov. 9).....

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