Cleveland-Cliffs to acquire AK Steel for $1.1B

Cleveland-Cliffs Inc. will acquire all outstanding shares of AK Steel Holding Corporation in a stock deal valued at approximately $1.1 billion, creating a vertically integrated iron ore and steel producer. The transaction was announced on December 3, 2019.

“Cleveland-Cliffs Inc. and AK Steel Holding Corporation are pleased to announce that they have entered into a definitive merger agreement pursuant to which Cliffs will acquire all of the issued and outstanding shares of AK Steel common stock.”clevelandcliffs.com

• 3 sources
• clevelandcliffs.comCleveland-Cliffs to Acquire AK Steel :: Cleveland-Cliffs Inc. (CLF)Dec 3, 2019
• sec.govCLEVELAND-CLIFFS INC. Form 8-K filed December 3, 2019Dec 3, 2019
• startribune.comCleveland Cliffs buying AK Steel in $1.1B deal in bid to create integrated iron and steel making companyDee DePassDec 4, 2019

Summarized from public sources; check the original articles before acting on it.