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Stelco Shareholders Okay Acquisition by U.S. Steel
10/29/2007 - Stelco shareholders overwhelmingly approve the corporation’s arrangement for its acquisition by United States Steel during a special meeting of shareholders.
Stelco shareholders overwhelmingly approved the corporation’s arrangement for its acquisition by United States Steel Corp.
The vote took place during a special meeting of shareholders held on Friday, Oct. 26, 2007, and the arrangement was approved by approximately 99.99% of the votes cast at the meeting.
Subject to satisfaction of the remaining conditions to the arrangement, including the final order of the Court at the hearing scheduled for October 30, 2007, it is anticipated that completion of the arrangement will occur on or about October 31, 2007.
Stelco, one of Canada's largest steel companies, is focused on its two Ontario-based integrated steel businesses located in Hamilton and in Nanticoke. These operations produce high quality value-added hot rolled, cold rolled, coated sheet and bar products.
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