U.S. Steel receives Canadian OK for acquisition of Stelco |
|
|
|
Published
:
Mon, 29 Oct 2007 17:09
|
NEW YORK (Thomson Financial) - United States Steel Corp. said Monday it has received approval from the Canadian Minister on Industry for its $1.1 billion acquisition of Stelco Inc.Under the terms of the deal, U.S. Steel has agreed to fund Stelco's main pension plans, increase production and exports from Canada, commit to significant capital expenditures at Stelco's facilities, and fund the endowment of a chair at McMaster University to facilitate continuing development of steelmaking technology in Ontario.All regulatory clearances to complete the acquisition have been obtained.Shares of U.S. Steel rose 1.4% to $112.79.Christie Rizkcr/vjCOPYRIGHTCopyright Thomson Financial News Limited 2007. All rights reserved.The copying, republication or redistribution of Thomson Financial News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Financial News.
|
|
|
|
|
|
|
| Stock
Quotes * |
|
NASDAQ
|
|
1617.01 |
+17.95 (
1.13 %)
|
| SYMBOL (
2009-01-08 ) |
| LAST |
CHANGE
|
| SYMBOL (
2009-01-08 )
|
| LAST |
CHANGE
|
| SYMBOL (
2009-01-08 )
|
| LAST |
CHANGE
|
|
|
Print this Story
U.S. Steel gets OK from Canada for acquisition of Stelco Inc. 