# Cleveland-Cliffs to acquire AK Steel for $1.1 billion

Cleveland-Cliffs, North America's largest producer of iron ore pellets, will acquire AK Steel, a leading producer of flat-rolled carbon, stainless and electrical steel products, for $1.1 billion. The deal was announced on July 9, 2020.

- Type: Acquisition
- Announced: 2020-07-09
- Where: Middletown, Ohio, United States
- Value: $1.10B
- Status: announced
- Products: 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

- [journal-news.com](https://www.journal-news.com/news/ak-steel-announcement-surprised-many-in-butler-county/article_b7a4e03a-8c14-53fb-bf38-6ee7c1d5eca2.html), 2020-07-09: "Today's announcement of the merger between AK Steel and Cleveland-Cliffs came as a surprise, but appears to be a positive move for the combined company."

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