Jan 4 2006
ThyssenKrupp AG announced today that it will increase its offer to purchase all of the common shares of Dofasco Inc. to C$ 63.00 per share. ThyssenKrupp also announced today that, in order to allow sufficient time for the receipt of all necessary regulatory clearances, it will extend the date of acceptance of its increased offer to January 25, 2006. ThyssenKrupp will mail a notice of variation and extension to Dofasco shareholders in the coming days.
"ThyssenKrupp's decision to increase its offer reflects the quality and strategic value of Dofasco" said Dr. Ekkehard Schulz, Chairman of the Executive Board of ThyssenKrupp. "We will continue to pursue the acquisition of Dofasco, recognizing the significant growth opportunities for our combined North American steel operations."
ThyssenKrupp's offer was mailed to Dofasco shareholders on December 5, 2005, with an original expiry date of January 10, 2006. The terms of the offer include typical conditions including the receipt of all necessary regulatory clearances. Based on the current projected timetable for the completion of the reviews by the applicable regulatory authorities, and taking into account the holiday season, ThyssenKrupp has determined that not all of the necessary regulatory clearances will be obtained by the original expiry date. ThyssenKrupp continues to work closely with the applicable regulatory authorities in connection with their review of the pending acquisition.