Governor Dayton and Commissioner Sertich visited ESML
's offices in Hibbing last week to review and discuss the project in light of the recent news that ESML
had secured the necessary financing to complete construction of its fully permitted open-pit iron ore mine, crushing, concentrating and pelletizing facilities.
8 billion total expenditure is being invested by ESML
for the project.
John Brett, Executive Vice President for Finance, Planning and Procurement of ArcelorMittal, USA, said: "We are pleased to enter into this long term off take agreement with ESML
engaged Credit Suisse Securities (USA) LLC to act as the "Solicitation Agent" and D.
s President and CEO, Madhu Vuppuluri, commented:
We firmly believe the company is worth substantially more than the SEK 26 per share offer from ESML
hereby announces that the company through continuous acquisitions of shares in Securitas Direct AB has reached an ownership of more than 90 percent.
For shareholders who have accepted ESML
Intressenter's Offer during the last extension period, settlement will be initiated on or about 3 April 2008.
The facility's location in the western Mesabi Range in northern Minnesota, which has a long history of iron ore mining, will allow ESML
to leverage the established local infrastructure to complete and operate the facility.
On 5 February 2008, ESML
Intressenter AB ("ESML
Intressenter") announced an increased Offer to the shareholders and holders of warrants in Securitas Direct AB (publ) ("Securitas Direct") to tender their shares in Securitas Direct to ESML
Intressenter for SEK 27.
Intressenter is currently evaluating a number of alternatives, including the waiving of the 90% acceptance condition.
6 /PRNewswire/ -- Pennant Capital Management opposes ESML
Intressenter AB's revised offer to buy Securitas Direct AB.