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US: Cleveland-Cliffs to acquire AK Steel for $1.1B

By  |  December 3, 2019

Cleveland-Cliffs and AK Steel Holding Corporation announced on Tuesday, December 3, that they have entered into a merger agreement that will see Cliffs acquire all of the issued and outstanding shares of AK Steel common stock.

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    According to Bloomberg Law, The transaction will combine Cliffs, North America’s largest producer of iron ore pellets, with AK Steel, a leading producer of flat-rolled carbon, stainless, and electrical steel products.

    The combined company will be “ideally positioned to provide high-value iron ore and steel solutions” to customers primarily across North America, according to a statement issued today by Cleveland-Cliffs.

    Full Content: Bloomberg

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