Algoma Cancels Talks with Salzgitter

Algoma Steel has terminated discussions over it possibly being acquired by Salzgitter AG.

In a release Algoma said that while discussions were underway, several other parties came forward and express interest in acquiring Algoma.

The announcement also noted that Algoma will provide some of these parties with information about the company and entering into preliminary discussions with them. However, the company noted that there is no way that this indicates that a deal with a new party will come to fruition.