# Algoma Steel and Legato Merger Corp. close business combination

Algoma Steel Group Inc. completed its merger with Legato Merger Corp., a SPAC, taking Algoma public on Nasdaq and TSX under ticker ASTL. The transaction provided net proceeds of approximately USD 306 million for strategic investments, including a proposed transition to electric arc furnace steelmaking.

- Type: Acquisition
- Announced: 2021-10-19
- Where: Sault Ste. Marie, Canada, Canada
- Value: $306.0M
- Status: completed
- Products: hot and cold rolled steel sheet and plate
- Sectors: [Steel and Metal Products](https://endata.com/sectors/steel-metal-products.md)

## Companies

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

## Sources

- [algoma.com](https://www.algoma.com/news/algoma-steel-and-legato-merger-corp-close-business-combination/), 2021-10-19: "Today Algoma Steel Group Inc., parent company of Algoma Steel Inc., announced the completion of their merger with 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.