# Algoma Steel to go public via merger with Legato Merger Corp.

Algoma Steel, a Canadian steel producer, signed a definitive merger agreement with SPAC Legato Merger Corp. to become a publicly listed company, with an enterprise value of approximately $1.7 billion.

- Type: Acquisition
- Announced: 2021-05-24
- Where: Sault Ste. Marie, Ontario, United States
- Value: $1.70B
- Status: announced
- Products: steel
- Sectors: [Steel and Metal Products](https://endata.com/sectors/steel-metal-products.md)

## Companies

- [Algoma Steel Inc.](https://endata.com/companies/15428.md) (target)
- [Legato Merger Corp.](https://endata.com/companies/55347.md) (acquirer)

## Sources

- [sec.gov](https://www.sec.gov/Archives/edgar/data/1820272/000121390021028946/ea141600ex99-1_legato.htm), 2021-05-24: "The proposed transaction will provide Algoma with investment capital and an enhanced capital structure to support further transformative investments."
- [sec.gov](https://www.sec.gov/Archives/edgar/data/1820272/000121390021028948/ea141600ex99-1_legato.htm), 2021-05-24: "The proposed transaction will provide Algoma with"
- [prnewswire.com](https://www.prnewswire.com/news-releases/algoma-steel-and-legato-merger-corp-sign-definitive-merger-agreement-301298220.html), 2021-05-25: "The proposed transaction will provide Algoma with investment capital and an enhanced capital structure to support further transformative investments that are expected to drive improved financial performance and sustainable returns through the steel pricing cycle."
- [saultstar.com](https://www.saultstar.com/news/algoma-steel-going-public-with-inked-merger-deal), 2021-05-25: "Algoma Steel has signed a merger deal that will see it gain $306 million in capital to continue the modernization of its plant."

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.