Arcelor extends Baffinland deadline but doesn't raise offer

Dec 30, 2010 | 07:37 AM |

Steelmaker ArcelorMittal SA has extended the deadline on its bid for iron ore miner Baffinland Iron Mines Corp. to Jan. 10, but has not raised its offering price.

The announcement late Wednesday came just hours after Nunavut Iron Ore Inc., which already owns 10 percent of Toronto-based Baffinland, offered Canadian $1.40 ($1.40) a share for 50 percent of Baffinland's shares, 15 cents higher than ArcelorMittal's offer of C$1.25 a share. ....

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