UPDATE 1-ThyssenKrupp backs out of takeover war for Dofasco

Newswire

(Adds background, details, share) FRANKFURT, Jan 23 (Reuters) - German industrial group ThyssenKrupp will effectively pull out of the takeover race for Canadian steelmaker Dofasco by waiving the right to raise its C$68 per share bid, it said late on Monday. "The executive board of ThyssenKrupp AG has decided not to submit a higher offer to purchase the Canadian steel manufacturer Dofasco Inc., as an offer of more than C$68 per share would go beyond the point of creating economic value," ...

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