Baffinland Iron Mines reviewing increased and revised hostile takeover offer

The Winnipeg Free Press.com reports that a revised takeover bid by a subsidiary of the Energy & Minerals Group is under review by Baffinland Iron Mines (TSX:BIM).

The story is quoted as saying:

The new bid by Nunavut Iron Ore Acquisition Inc. is much higher than its original offer of 80 cents per share and a 23 per cent premium over the ArcelorMittal’s offer, which valued the company at $433 million.

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