# Cleveland-Cliffs announces acquisition of Stelco for $2.5 billion

Cleveland-Cliffs Inc. has entered into a definitive agreement to acquire Stelco Holdings Inc. for a total enterprise value of approximately USD $2.5 billion (CAD $3.4 billion). The acquisition expands Cliffs' steelmaking footprint in North America.

- Type: Acquisition
- Announced: 2023-06-30
- Where: Ontario, Canada
- Value: $2.50B
- Status: announced
- Capacity: 2.6 million net tons of flat-rolled steel annually
- Products: flat-rolled steel, hot-rolled steel
- Sectors: [Steel and Metal Products](https://endata.com/sectors/steel-metal-products.md)

## Companies

- [Stelco](https://endata.com/companies/25295.md) (target)
- [Cleveland-Cliffs](https://endata.com/companies/27377.md) (acquirer)

## Sources

- [markets.financialcontent.com](https://markets.financialcontent.com/pennwell.hydroworld/article/bizwire-2024-7-15-cleveland-cliffs-announces-the-acquisition-of-stelco), 2023-06-30: "The acquisition confirms Cliffs’ commitment and leadership in integrated steel production in North America, and also brings an additional 1,800 United Steelworkers union employees into Cliffs’ workforce."

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