Court gives Stelco, Deutsche extension for deal

Newswire

TORONTO, Nov 22 (Reuters) - A Canadian court postponed making a ruling on Monday on a refinancing deal for Stelco Inc. offered by Deutsche Bank , and the court gave the two firms until Thursday to refine their proposal. The extension comes after Canada's No. 1 steelmaker lost a contract to supply steel to its biggest customer, General Motors Corp. . "We are working on some of the items of the Deutsche Bank deal," Michael Barrack, one of Stelco's lawyers told reporters after the ruling.

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