This is nothing but a cheap PR stuntWho in their bloody right mind would buy this dog? Stelco has been a dog for years and will continue to be one. Their recent restructuring was a joke, more akin to shifting the deck chairs on the Titanic than actually accomplishing anything worthwhile. They padded the pension fund but did nothing else.
If anyone buys Stelco they will live to regret it. I can't see anyone in the steel industry buying this dog. All of the problems that have plagued Stelco for years are still there - high costs, low productivity, poor assets in need of major investment, a radical union, etc, etc, etc.
I think this announcement is nothing more than an attempt by insiders to boost their lagging stock so they can unload their shares. Anyone foolish enough to fall for this ruse deserves the haircut they will get.