# Legato Merger Corp. to acquire Algoma Steel in $1.7B deal

Legato Merger Acquisition Corp. filed a preliminary proxy for its proposed acquisition of Algoma Steel, valuing the combined company at $1.7 billion. The deal includes $236 million from Legato's trust and a $100 million PIPE, with closing expected in Q3 2021.

- Type: Acquisition
- Announced: 2021-07-07
- Where: Canada
- 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 Acquisition Corp.](https://endata.com/companies/56327.md) (acquirer)

## Sources

- [news.spacconference.com](https://news.spacconference.com/2021/07/07/legato-merger-files-prelim-proxy-on-1-7b-algoma-steel-deal/), 2021-07-07: "The deal values the combined company at $1.7 billion."

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