Legato Merger Corp to take Canada's Algoma Steel public, shares up

Algoma Steel

25/05/2021 10:56

** Shares of blank-check firm  LEGO.O  rise as much as 3.2%
to $10 premarket 
    ** Canadian steelmaker Algoma Steel will become a publicly
listed company through a merger with LEGO in a deal that will
value the combined company at more than $1 billion  urn:newsml:reuters.com:*:nL2N2NC03R
    ** The deal is expected to provide Algoma Steel with $306
million in capital, including a $100 million fully committed
private placement with key investors
    ** Algoma, which will be listed on the Nasdaq, also intends
to list its common shares on the Toronto Stock Exchange

 (Reporting by Rithika Krishna in Bengaluru)
 ((Rithika.Krishna@thomsonreuters.com;))