Algoma Steel, Legato Merger Corp. announce approval of 'business combination'
Legato Merger Corp. (“Legato”) (Nasdaq: LEGO), a U.S. publicly-traded special purpose acquisition company, and Algoma Steel Group Inc. (“Algoma”), a fully integrated producer of hot and cold rolled steel products, today announced that Legato's stockholders have approved the previously announced business combination transaction between Legato and Algoma (the “Merger”).
The holders of approximately 74 per cent of the shares of Legato common stock voted at the special stockholder meeting and approximately 92 per cent of the shares voted were voted in favour the merger.
The holders of 716 shares of Legato common stock validly exercised their redemption rights in connection with the Merger.
Legato will file with the Securities and Exchange Commission (the “SEC”) a Form 8-K disclosing the final voting results.
The closing of the merger is …
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