Dofasco
Dofasco is a leading Canadian steel producer.
Business
The company employs about 11 000 employees and is the equivalent of around 2.7 billion euros. It was founded in 1912. Dofasco's product lines include in addition to traditional hot-rolled steel long products and processed products, including cold rolled strips, galvanized and tinned products but also a laser-welded semi-finished parts. Also includes pipe products to the product.
Dofasco has in addition to the Canadian locations, including in the steel city of Hamilton, also has production sites in the United States and Mexico. The group also included the Quebec Cartier Mine, Wright Mine ( an open pit mine ) and a pellet mill in Port Cartier. A technology agreement, which was later exposed, was with ThyssenKrupp.
Takeover
Dofasco was the target of a bidding battle, which was fought between the companies ThyssenKrupp and Arcelor. The latter was able to prevail; the acquisition of Dofasco by Arcelor took place on 21 February 2006 Total Arcelor acquired 88.38 percent of the share capital.; Dofasco should be the center of Arcelor's growth strategy in North America.
Shortly thereafter, on June 25, 2006, but agreed Arcelor itself to a hostile takeover bid by Mittal Steel. Mittal manager wanted to leave the Dofasco group for 68 Canadian dollars per share in ThyssenKrupp; especially to meet anticipated objections of the U.S. antitrust authorities against the proposed gigantic steel company Arcelor -Mittal anticipated. Details have already been able to reach agreement in advance between Mittal Steel and ThyssenKrupp; a contract is signed, insists on the Thyssen., Arcelor managers said that they intend to not give them after the merger with Mittal Dofasco to ThyssenKrupp. The Dofasco shares were spun off from Arcelor to fend off the hostile takeover in a foundation. This has so far rejected from a self-dissolution. ThyssenKrupp court trying to force Mittal to the dissolution of the Foundation, but failed so end of January 2007 before a Dutch court. The acquisition of Dofasco by ThyssenKrupp is therefore likely failed.