ArcelorMittal to 'vigorously' fight C$800-million class action suit

Steel giant ArcelorMittal said on Thursday it will “vigorously defend” itself against an C$800-million class action suit relating to its takeover of Baffinland Iron Mines earlier this year. London, Ontario-based law firm Siskinds on Tuesday...

McCreary to tender Baffinland stock, others mull dissent

Gord McCreary, the former CEO of Baffinland Iron Mines who was hoping to drum up an improved offer for the company from China, intends to tender his stock into the offer from steel giant ArcelorMittal and its partner Nunavut Iron Ore on...

Baffinland hires new CEO, appoints directors

Baffinland Iron Mines, for which ArcelorMittal and Nunavut Iron Ore extended a joint takeover offer this week, has appointed Phil du Toit as president and CEO and made a number of board changes, the company reported on Friday. ArcelorMittal and...

Temperatures rise after latest Baffinland twist

Canadian iron ore has been so hot over the past four months that it’s almost smelting itself. If not, the fury invoked by the teaming up of warring bidders for Baffinland Iron on Friday should do the job. When Texas-money backed Nunuvut Iron...

Still no new offer for Baffinland, despite Nunavut extensions

TSX-listed Baffinland Iron, which last month agreed to a C$433-million offer from steel giant ArcelorMittal, has been left baffled by the repeated extensions to an inferior offer that Nunavut Iron Acquisition made September 22. “I have no idea...

Baffinland recommends shareholders spurn unsolicited offer

TSX-listed Baffinland Iron Mines has recommended that shareholders reject an unsolicited takeover offer from Nunavut Iron Ore Acquisition, arguing that the bid “significantly undervalues” the company. Baffinland chairperson Richard Mcloskey...

The road to an offer for Baffinland Iron

The announcement on Wednesday that Nunavut Iron has made an unsolicited offer for Baffinland Iron Mines may have seemed out of the blue, but the process leading up to the bid has been under way for most of this year. On February 18, former...

Private equity firm offers to buy Baffinland Iron

Private equity vehicle Nunavut Iron Ore on Wednesday announced an offer to buy Canadian junior Baffinland Iron Mines for C$0,80 a share in cash, valuing the company at C$274-million. Baffinland rose 60% on the TSX on Wednesday morning, to trade...

Baffinland Iron seeks partner for Nunavut project

TSX-listed Baffinland Iron Mines is hoping to secure a strategic partner for its $4,1-billion Mary River iron ore project within the next two to three months, chairperson and acting CEO Richard McCloskey said on Tuesday. Baffinland is looking to...