U.S. Steel in major deal: Stelco purchase touted as serious boon

摘要

United States Steel and Stelco entered into a definitive agreement under which U.S. Steel will acquire Stelco for 38.50 dollars (Canadian) in cash per share, or approximately 1.1 billion US dollars. Shareholders owning more than 76 percent of Stelco's outstanding shares, including Tricap Management Limited, Sunrise Partners Limited Partnership, Appaloosa Management L.P., and Rodney Mott, the CEO of Stelco, entered into agreements with U. S. Steel irrevocably committing to support the transaction.