If AM is in, then that's a good thing.But it would have to be...

If AM is in, then that's a good thing.

But it would have to be part of a consortium.

AM is definitely "European", their steel markets are also mostly European.

They recently sold down thier IO their IO stakes in Canada for $1.1 billion.

Another billion bucks in the offer can't hurt Sundance, that's for sure.

http://business.financialpost.com/2013/01/02/arcelormittal-to-sell-1-1-billion-stake-in-canadian-iron-ore-unit/

SEOUL/BRUSSELS — ArcelorMittal, the world’s biggest steelmaker, will sell a 15% stake in one of its Canadian iron ore operations, raising US$1.1 billion to help pay off debt at a time of sluggish demand.

The group, which makes about 6-7% of the world’s steel, will sell the stake in ArcelorMittal Mines Canada to a consortium including South Korean steelmaker POSCO and Taiwan-listed China Steel, it said on Wednesday.

It is the latest in a series of steps to raise funds as slow global economic growth and spending cuts in Europe dampen demand for steel used in the car and construction industry.