Thursday, 27 Jan 2011
The Canadian Press reported that the former CEO of Baffinland Iron Mines will continue to fight for the minority shareholders of his former company after a joint venture led by ArcelorMittal announced it has won control of the firm.
Mr Gord McCreary had been working on rival offer for Baffinland involving an unidentified Chinese bidder before ArcelorMittal and its private equity partner announced that they now control about 60% of the company's shares.
Mr McCreary said “It's all about maximizing value for minority shareholders, so I've got several irons in the fire and keep charging ahead.”
However, Mr McCreary declined to be specific about what possibilities he might be pursuing.
He said "I'm still fully engaged working 20 hour days on this.”
(Sourced from The Canadian Press)