ArcelorMittal has extended its USD 555 million offer to purchase all shares of Baffinland Iron Mines Corporation (Baffinland) until 11:59 p.m. on 21 January 2011, after its rival bidder Nunavut Iron Ore Acquisition Inc. (Nunavut Iron), sweetened and extended the deadline for its offer. ArcelorMittal is offering USD 1.41 per Baffinland share to acquire 100% of the company. Nunavut Iron added one exchange right per common share to its USD 1.45 a share bid in cash for 60% of Baffinland. The company also extended its offer to 11:59 p.m. on 25 January 2011. With Nunavut Iron’s bid, each exchange right would give shareholders 0.4% of a share purchase warrant. Each whole warrant would entitle the holder to purchase one common share at a price not less than USD 1.41.