AK Steel to acquire PPHC Holdings for $360 million

AK Steel Corporation, a subsidiary of AK Steel Holding Corporation, entered into an agreement to acquire all membership interests in PPHC Holdings, LLC for $360 million on a cash- and debt-free basis. PPHC is headquartered in Ontario and employs over 1,000 people across eight plants.

“Pursuant to and subject to the terms and conditions of the Purchase Agreement, the Company will acquire all of Sellers’ membership interests in PPHC by way of a merger of Merger Sub with and into PPHC, for $360 million, on a cash- and debt-free basis, subject to certain adjustments.”sec.gov

• 1 source
• sec.govCleveland-Cliffs Steel Holding Corp Form 8-K filed July 7, 2017Jul 7, 2017

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