Baffinland shares rise above Arcelor's sweetened bid

TORONTO (Reuters) - Shares of Baffinland Iron Mines BIM.TO jumped 3.6 percent after ArcelorMittal (ISPA.AS) on Friday sweetened its offer for control of the junior miner.

Baffinland rose to C$1.43 on the Toronto Stock Exchange, surpassing a revised offer of C$1.40 a share from ArcelorMittal. That offer also matches the price per share in a rival bid from Nunavut Iron.

Baffinland is at the center of a bidding war for its vast iron ore deposit in the northern Canadian territory of Nunavut.

($1=$1.00 Canadian)

(Reporting by Ka Yan Ng; editing by Jeffrey Hodgson)