And waiving the notification requirement with respect to the transaction.
With Final Approvals Granted, Baffinland Shareholders and 2007 Warrantholders are Urged to Tender their Securities to the ArcelorMittal Offer
This constitutes compliance with the requirements for Competition Act approval under the Offer.
ArcelorMittal also confirmed today that it has previously received notification from Industry Canada that the Offer is not subject to review under the Investment Canada Act and has confirmed that no notification or approval in connection with the Offer is required under the Canada Transportation Act. As a result, there are no further conditions of the Offer with respect to regulatory approvals outstanding.
Under the terms of the Offer, holders of Common Shares will receive C$1.10 in cash for each Common Share and holders of 2007 Warrants will receive C$0.10 in cash per 2007 Warrant. The board of directors of Baffinland has approved the Offer and unanimously recommends that Baffinland's securityholders tender their Common Shares and 2007 Warrants to the Offer. Baffinland securityholders are encouraged to tender their securities to the Offer as soon as possible.
Full details of the Offer are included in ArcelorMittal's take-over bid circular and Baffinland's directors' circular mailed to Baffinland securityholders on 13 November 2010. The Offer remains open for acceptance until 11:59 p.m. (Toronto time) on 20 December 2010, unless withdrawn or extended by ArcelorMittal.
ArcelorMittal has retained Georgeson Shareholder Communications Canada Inc. as information agent in connection with the Offer. Computershare Investor Services Inc. is the depositary for the Offer. Any questions or requests for assistance or further information on how to tender Common Shares or 2007 Warrants to the Offer may be directed to, and copies of the above referenced documents may be obtained by contacting, the information agent at 1-888-605-7641 or by email at [email protected] or by contacting the depositary at 1-800-564-6253 (North America) or 1-514-982-7555 (overseas), or by email at [email protected] Securityholders whose Common Shares or 2007 Warrants are registered in the name of a broker, investment dealer, bank, trust company or other nominee should contact such nominee for assistance in depositing their Common Shares and 2007 Warrants to the Offer.
Information Agent for the OfferK
Toll Free (North America): 1-888-605-7641
Collect (Overseas): 1-781-575-2168
E-Mail: [email protected]
This document contains forward-looking information and statements about ArcelorMittal and its subsidiaries. These statements include financial projections and estimates, including non-cash impairment charges, net financial debt and net debt to EBITDA leverage ratio, statements regarding plans, objectives and expectations with respect to future operations and statements regarding future performance generally. Forward-looking statements may be identified by the words "will," "believe," "expect" or similar expressions. Although ArcelorMittal's management believes that the expectations reflected in such forward-looking statements are reasonable, investors and holders of ArcelorMittal's securities are cautioned that forward-looking information and statements are subject to numerous risks and uncertainties, many of which are difficult to predict and generally beyond the control of ArcelorMittal, that could cause actual results and developments to differ materially and adversely from those expressed in, or implied or projected by, the forward-looking information and statements. These risks and uncertainties include those discussed or identified in the filings with the Luxembourg Stock Market Authority for the Financial Markets (Commission de Surveillance du Secteur Financier) and the United States Securities and Exchange Commission (the "SEC") made or to be made by ArcelorMittal, including ArcelorMittal's Annual Report on Form 20-F for the year ended 31 December, 2009 filed with the SEC. ArcelorMittal undertakes no obligation to publicly update its forward-looking statements, whether as a result of new information, future events or otherwise.