ArcelorMittal gets regulatory nod on Baffinland purchase

Dec 14, 2010 | 01:29 PM |

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

The Luxembourg-based steelmaker is offering Canadian $1.10 ($1.09) per share, a 15.8-percent premium from the Nov. 5 closing price of C95 cents per share, valuing the property at C$433 million ($432 million) (AMM, Nov.....

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