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Arcelor Now Favoured to Buy Dofasco as ThyssenKrupp Pulls out

Jan 24 2006

Dofasco Inc. announced today that it has received notification from ThyssenKrupp AG that it does not intend to exercise its right under its existing support agreement with Dofasco to match the offer of C$71 per common share made by Arcelor S.A. on January 16, 2006. ThyssenKrupp will maintain its offer price of C$68 per common share and not extend the expiry date of its offer beyond January 26, 2006.

Arcelor has entered into an irrevocable agreement with Dofasco to acquire all of Dofasco’s outstanding common shares at an offer price of C$71 per common share. Arcelor’s offer expires on February 8, 2006.

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