Capital market-relevant press releases, 2006-01-03, 01:01 PM
ThyssenKrupp increases its offer for Dofasco to C$ 63.00 per share and extends to January 25, 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.
Shareholders may obtain a copy of the notice of variation and extension (when available), take-over bid circular, directors' circular and other materials at the SEDAR web site at www.sedar.com, from Georgeson Shareholder Communications Canada Inc. at 1-866-439-0616 or from MacKenzie Partners, Inc. at 1-800-322-2885.
Citigroup and Goldman Sachs are acting as financial advisors, and Osler, Hoskin & Harcourt LLP as legal advisors to ThyssenKrupp.
Focusing on the key areas of Steel, Capital Goods and Services, the capabilities of ThyssenKrupp are organized in six segments - Steel, Stainless, Automotive, Technologies, Elevator and Services.
With sales of EUR42.1 billion in 2004/2005 and nearly 184,000 employees, the Group occupies mainly top-three positions with its activities worldwide.
ThyssenKrupp Steel concentrates on flat-rolled steel with high value added, tailored to customers' requirements. With sales of around EUR9.7 billion in fiscal year 2004/2005, approximately 31,500 employees and customers in more than 80 countries, the segment is one of the world's foremost steel producers. In carbon steel flat products it is number 2 in Europe. Products from ThyssenKrupp Steel are used in a wide range of everyday applications, such as car bodies, facades and domestic appliances.
<u>About ThyssenKrupp in Canada:</u>
ThyssenKrupp has a track record of successful operations in Canada. The Group has been operating in the country since 1914. Today, ThyssenKrupp owns directly or indirectly a total of 16 group companies as well as two minority interests and employs more than 4,200 people in the provinces of Alberta, British Columbia, New Brunswick, Newfoundland, Ontario and Québec. Sales amounted to 1 billion euros in fiscal 2004/2005. The activities in Canada focus on the supply of body and chassis components to the North American auto industry, the production and service of elevators and escalators as well as the sale of carbon and stainless steel.
Forward Looking Statements
This press release contains "forward-looking statements" that are subject to a number of risks and uncertainties, many of which are beyond ThyssenKrupp's control, that could cause actual results to differ materially from those set forth in, or implied by, such forward-looking statements. All statements other than statements of historical facts included in this press release are forward-looking statements. All forward-looking statements speak only as of the date of this press release. ThyssenKrupp does not undertake any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. There can be no assurance that any transaction between ThyssenKrupp and Dofasco will occur, or will occur on the timetable contemplated hereby.