Steel giant Arcelor trumped ThyssenKrupp’s latest bid for Dofasco on Monday by raising its offer to C$71 per share, valuing the Canadian target at C$5.5 billion in one of Europe’s fiercest takeover battles.
Arcelor’s new offer was 4.4 percent higher than the C$68 bid made by ThyssenKrupp on Saturday, and 61 percent higher than Dofasco’s closing price on the day before Arcelor made its first hostile bid in November.
