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home / news releases / ASTL - Algoma Steel: Tender Offer Likely To Get Undersubscribed

ASTL - Algoma Steel: Tender Offer Likely To Get Undersubscribed

Algoma Steel Group Inc.
  • Algoma Steel Group recently announced a large tender offer for ~25% of its shares at the current market price.
  • The company remains extremely cheap versus peers despite its ongoing electric arc furnace transformation.
  • Undervaluation, large tender offer size and ongoing transition all suggest that many shareholders will choose not to tender.
  • This implies that the offer may very well end up undersubscribed and priced at the upper limit, presenting a 7% upside.

For further details see:

Algoma Steel: Tender Offer Likely To Get Undersubscribed
Stock Information
Company Name: Algoma Steel Group Inc.
Stock Symbol: ASTL
Market: NYSE
Website: algoma.com
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