ArcelorMittal Says its Offer Baffinland's Shares is Financially Superior to Nunavut's Coercive Partial Offer

ArcelorMittal MT today responded to Nunavut Iron Ore Acquisition Inc.'s recent allegations regarding ArcelorMittal's improved, financially superior offer for Baffinland Iron Mines Corporation. ArcelorMittal's improved offer of C$1.25 in cash per common share provides superior value and certainty for the shareholders of Baffinland. The ArcelorMittal Offer is made for 100% of Baffinland's shares as compared to Nunavut's offer, which is a coercive partial bid for only 50.1% of Baffinland's common shares including those shares already owned by Nunavut.