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

 |  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.

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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