# Cleveland-Cliffs to acquire ArcelorMittal USA for $1.4 billion

ArcelorMittal announced a definitive agreement for Cleveland-Cliffs to acquire 100% of ArcelorMittal USA for $1.4 billion in cash and stock, including assumed liabilities.

- Type: Acquisition
- Announced: 2020-09-28
- Where: United States
- Value: $1.40B
- Status: announced
- Products: steel
- Sectors: [Steel and Metal Products](https://endata.com/sectors/steel-metal-products.md)

## Companies

- [ArcelorMittal](https://endata.com/companies/292.md) (partner)
- [ArcelorMittal](https://endata.com/companies/292.md) (target)
- [Cleveland-Cliffs](https://endata.com/companies/27377.md) (acquirer)
- [ArcelorMittal USA](https://endata.com/companies/50188.md) (target)

## Sources

- [automotive.arcelormittal.com](https://automotive.arcelormittal.com/news_and_stories/news/2020Oct_ArcelorMittalUSA-Cleveland-Cliffs), 2020-09-28: "ArcelorMittal expects to receive an aggregate equity value consideration of $1.4 billion upon closing of the Transaction."
- [sec.gov](https://www.sec.gov/Archives/edgar/data/1243429/000114036120021694/brhc10015566_ex99-1.htm), 2020-09-28: "ArcelorMittal (the “Company”, “Group”) announces it has entered into a definitive agreement (the “Agreement”) with Cleveland-Cliffs Inc. (“Cleveland-Cliffs”) pursuant to which Cleveland-Cliffs will acquire 100% of the shares of ArcelorMittal USA."
- [piquenewsmagazine.com](https://www.piquenewsmagazine.com/national-business/cleveland-cliffs-buys-arcelormittals-us-business-for-14b-2749095), 2020-09-28: "The acquisition of ArcelorMittal USA amplifies our position in the discerning automotive steel marketplace, and further improves our position in important U.S. markets such as construction, appliances, infrastructure, machinery and equipment."
- [miningconnection.com](https://miningconnection.com/longwall/news/article/cleveland_cliffs_to_acquire_arcelormittal_usa_for_1.4_billion), 2020-10-09: "Cleveland-Cliffs has entered into a definitive agreement with ArcelorMittal S.A., to which Cleveland-Cliffs will acquire substantially all of the operations of ArcelorMittal USA and its subsidiaries or approximately $1.4 billion."

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