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Stelco wins OK for rights offering.
Byline: Laura King in Toronto
The judge overseeing the restructuring of insolvent Canadian steelmaker Stelco Inc. on Tuesday approved a process for a rights offering to raise at least C$200 million and gave the company permission to look for other investors.
Stelco's chief restructuring officer said in a court filing that the company expects Deutsche Bank AG to lead a rights offering that will help it raise up to C$200 million. Stelco says it needs C$360 and C$450 million for capital improvements over the …
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