Baffinland Responds to Amended Offer

Baffinland Iron Mines (TSX:BIM) announced that it has received an amended offer from Nunavut Iron Ore Acquisition Inc.

The press release is quoted as saying:

Baffinland Iron Mines Corporation announced today that it has received notice by way of press release of an amended offer being made to its shareholders by Nunavut Iron Ore Acquisition Inc. (the “Offeror”), a corporation wholly-owned by Iron Ore Holdings, LP, to acquire 60% of its outstanding common shares (calculated on an in-the-money fully-diluted basis) including all of the common shares owned by the Offeror at a price of $1.40 in cash per common share.

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