Holders of common shares of Stelco Holdings voted in favor of the special resolution regarding the previously announced indirect acquisition of Stelco by Cleveland-Cliffs at a special meeting of the shareholders held on Monday, Sept. 16.

The arrangement resolution received support of 99.97% of the total votes cast for the arrangement resolution. The transaction is expected to close in the fourth quarter of 2024.

Upon closing, which is subject to conditions, Stelco is expected to continue as a wholly-owned subsidiary of Cleveland-Cliffs.