Stelco shareholders say yes to deal with U.S. Steel

By Lisa Kerner

Charlotte, N.C., Oct. 26 - Stelco Inc. shareholders approved the company's arrangement with United States Steel Corp. at a special meeting on Friday with the transaction expected to be completed on Wednesday.

The arrangement was approved by approximately 99.99% of the votes cast at the meeting, a company news release stated.

It was previously reported that on Aug. 27, U.S. Steel agreed to buy Stelco for C$38.50 per share.

U.S. Steel is an integrated steel producer based in Pittsburgh. Stelco is a Hamilton, Ont., steel company.

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