Posted in | News | Ferrous Alloys and Metals | Iron and Steel

Essar Steel Complete Acquisition of Algoma Steel

Jun 22 2007

Algoma Steel Inc. today announced the completion of the arrangement involving the acquisition by a subsidiary of Essar Steel Holdings Limited of all of Algoma's outstanding common shares for all cash consideration of $56 per share.

Algoma Steel Inc. is an integrated steel producer based in Sault Ste. Marie, Ontario. Revenues are derived primarily from the manufacture and sale of rolled steel products including hot and cold rolled sheet and plate.

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