ThyssenKrupp raises takeover bid for steelmaker Dofasco

0 Comments | AFP, January, 2006

BERLIN (AFP) — German industrial conglomerate ThyssenKrupp increased its offer for Dofasco, matching an offer by Arcelor in December for the Canadian steel maker in the ongoing bidding war between the two companies.

ThyssenKrup said it had offered 63.00 Canadian dollars (45.41 euros, 54.24 US dollars) per share, and extended its offer to Dofasco shareholders until January 25.

A company spokesman said ThyssenKrupp's offer is still all cash.

The offer values Dofasco at 3.65 billion euros (4.36 billion dollars).

Both ThyssenKrupp and Arcelor, the world's second-biggest steel company, are eager to acquire the Hamilton, Ontario-based firm, which is a major supplier to the North American auto industry.

Dofasco also holds 10 years of iron ore...