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Bullboard - Stock Discussion Forum Stelco Holdings Inc STZHF


Primary Symbol: T.STLC

Stelco Holdings Inc. is a Canada-based integrated and independent steelmaker with advanced integrated steelmaking facilities in North America. The Company is engaged in the production and sale of steel products. The Company produces flat-rolled value-added steels, including coated, cold-rolled, and hot-rolled steel products, as well as pig iron and metallurgical coke. It also provides gauge... see more

TSX:STLC - Post Discussion

Stelco Holdings Inc > Share buyback
View:
Post by fishcarrier on Aug 13, 2021 8:12am

Share buyback

Stelco is purchasing over 11,000,000 shares from Bedrock for just under $35 per share. Shares to be retired. See Stelco note. So, this won't affect the public float.
Comment by extremerisk on Aug 13, 2021 9:01am
Very tough to buy back 13 percent of stock in traditional way.  Wow what a great deal for Stelco!  Kestebaum is second smartest guy in world.  Musk is first. shares o/S go from 89 to 77 million immediately improving all financial metrics per share.  Seller does keep 7.6 million so can participate in future upside.  Deal was designed foe bedrock to go under 10 percent ...more  
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