Baffinland Recommends ArcelorMittal-Nunavut 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

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