The Toronto Stock Exchange reports that Stelco Holdings Inc. will be delisted at the close on Nov. 4, 2024. According to the TSX, the delisting results from the plan of arrangement pursuant to Section 192 of the Canada Business Corporations Act involving, among other things, the acquisition by 13421422 Canada Inc., a wholly owned subsidiary of Cleveland-Cliffs Inc., of all of the outstanding common shares of the company.

The arrangement was approved by shareholders at a meeting held on Sept. 16, 2024. Shareholders of the company will receive, for each common share held, cash consideration of $60 and 0.454 of a share of Cleveland-Cliffs. To receive the consideration, shareholders must return the letter of transmittal together with share certificates or DRS advices, if applicable, to Computershare Investor Services Inc. at its principal offices in Toronto.

For more information, see Stelco's management information circular dated Aug. 16, 2024, available on SEDAR+.