Nunavut, ArcelorMittal Hike Bids for Baffinland.

Continuing to raise the stakes for the sale of Canada's Baffinland Iron Mines, Nunavut Iron has upped its offer to 1.45 Canadian dollars ($1.45) per share, Reuters said. The group - backed by U.S. private equity firm Energy & Minerals Group – increased its offer Friday after steel giant ArcelorMittal hiked its bid for Baffinland to $1.40 per share, or $550 million.

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