Nunavut Iron Ore said on Monday that it would boost its offer for Baffinland Iron Mines (BIM.TO) to C$1.45 in cash per share, plus one exchange right per common share. The company, backed by a private equity fund, also extended its offer to Jan. 25, after signalling it would do so last week. The offer had been scheduled to expire on Monday. Since September, Nunavut has been caught up in a bidding war with the world's No. 1 steelmaker ArcelorMittal SA (ISPA.AS) to gain control of Baffinland and its vast iron ore deposit in the Canadian Arctic.
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