# Algoma Steel to merge with Legato Merger Corp in $1.7B deal

Canadian steelmaker Algoma Steel Inc. announced a merger agreement with US-based Legato Merger Corp. valued at approximately $1.7 billion, which will provide about $306 million in additional capital and make Algoma a publicly traded company on Nasdaq.

- Type: Acquisition
- Announced: 2021-05-24
- Where: Sault Ste. Marie, Ontario, Canada
- Value: $1.70B
- Status: announced
- Capacity: 2.8 million tonnes per year
- Products: hot-rolled steel, cold-rolled steel, steel plate
- 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

- [ticaret.gov.tr](https://ticaret.gov.tr/blog/ulkelerden-ticari-haberler/kanada/kanadali-celik-ureticisi-algoma-steel-inc-abdli-legato-merger-corp-ile-birlesm), 2021-06-01: "Birleşme ile yaklaşık 306 milyon USD değerinde ilave sermaye elde etmesi beklenen Algoma Steel Inc.'in, Nasdaq Borsasındaki ortak hisseleri ile birlikte halka açık şirket statüsünü kazanacağı ve Toronto Borsası'ndaki hisselerini de aynı şekilde halka açmayı planladığı açıklanmıştır."
- [sec.gov](https://www.sec.gov/Archives/edgar/data/1820272/000095014221002063/eh210162241_425.htm), 2021-06-21: "Algoma Steel is to become a public company again as the century-old Canadian steelmaker has agreed to be taken over by New York-based acquisition firm Legato Merger Corp."

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