Business
Stelco announces regulatory approval for its acquisition by U.S. Steel
Stelco announces regulatory approval for its acquisition by U.S. Steel.
About this update from Starr Peak Mining Ltd
[{"type":"text","content":"\n\n\n\nHAMILTON, ON, Oct. 29 /CNW/ - Stelco Inc. ("Stelco" or the "Corporation")\n(TSX: STE) today announced that it has been advised that United States Steel\nCorporation has received all regulatory approvals required to complete the\narrangement (the "Arrangement") of Stelco under section 192 of the Canada\nBusiness Corporations Act involving the acquisition by an indirect\nwholly-owned subsidiary of United States Steel Corporation of all of the\ncommon shares of Stelco. The completion of the Arrangement remains subject to\nthe approval of the Ontario Superior Court of Justice at a hearing scheduled\nfor October 30, 2007 and the satisfaction of certain other conditions\ndescribed in the management proxy circular dated September 24, 2007 that was\nmailed to shareholders of Stelco and is available on SEDAR at www.sedar.com.\nSubject to the satisfaction of such conditions, it is anticipated that the\nArrangement will be completed on or about October 31, 2007.\n\n\nAbout Stelco\n\n\nStelco is one of Canada's largest steel companies. It is focused on its\ntwo Ontario-based integrated steel businesses located in Hamilton and in\nNanticoke. These operations produce high quality value-added hot rolled, cold\nrolled, coated sheet and bar products. To learn more about Stelco and its\nbusinesses, please refer to our web site at www.stelco.ca.\n\n\nCautionary Statement with Respect to Forward-Looking Statements\n\n\nCertain statements included herein constitute "forward-looking\nstatements". All statements, other than statements of historical fact,\nincluded in this release that address future activities, events, developments\nor financial performance, are forward-looking statements. These\nforward-looking statements can be identified by the use of forward-looking\nwords such as "may", "should", "will", "could", "expect", "intend", "plan",\n"estimate", "anticipate", "believe", "future" or "continue" or the negative\nthereof or similar variations. The forward-looking statements are based on\ncertain assumptions and analyses made by Stelco and its management in light of\ntheir experiences and their perception of historical trends, current\nconditions and expected future developments...