# 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.

- Type: Acquisition
- Announced: 2019-12-03
- Where: United States
- Value: $1.10B
- Status: announced
- Products: iron ore pellets, flat-rolled carbon steel, stainless steel, electrical steel
- Sectors: [Steel and Metal Products](https://endata.com/sectors/steel-metal-products.md)

## Companies

- [AK Steel](https://endata.com/companies/17350.md) (target)
- [Cleveland-Cliffs](https://endata.com/companies/27377.md) (acquirer)

## Sources

- [clevelandcliffs.com](https://www.clevelandcliffs.com/news/news-releases/detail/50/cleveland-cliffs-to-acquire-ak-steel), 2019-12-03: "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."
- [sec.gov](https://www.sec.gov/Archives/edgar/data/764065/000076406519000184/clf8-kannoucement12320.htm), 2019-12-03: "Cleveland-Cliffs Inc. and AK Steel Holding Corporation issued a joint press release announcing the execution of an Agreement and Plan of Merger."
- [startribune.com](https://www.startribune.com/cleveland-cliffs-buying-ak-steel-in-1-1b-deal-in-bid-to-create-integrated-iron-and-steel-making-comp/565736042/), 2019-12-04: "Together, Cliffs and AK Steel will have a presence across the entire manufacturing process, from mining to pelletizing to the development and production of finished, high-value steel products."

---
Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.