Baffinland Recommends ArcelorMittal-Nunavut Offer

Jan. 17, 2011 01:12PM PST

Bloomberg.com reports that Baffinland Iron Mines (TSE:BIM) has given the nod to shareholders to accept the Arcelor Mittal (NYSE:MT) takeover offer.

Bloomberg.com reports that Baffinland Iron Mines (TSX:BIM) has given the nod to shareholders to accept the ArcelorMittal (NYSE:MT) takeover offer.

The story is quoted as saying:

ArcelorMittal, the largest steelmaker, joined with former rival bidder Nunavut last week in a joint offer for Baffinland valued at about C$590 million ($597 million), ending a three- month takeover battle. Baffinland Chief Executive Officer Richard McCloskey said Jan. 14 he didn’t support the new bid

To access the full story, click here.

iron investing tsx:bim nyse:mt