ArcelorMittal USA

Cleveland-Cliffs Inc. completed the acquisition of substantially all operations of ArcelorMittal USA, forming the largest flat-rolled steel producer in North America. It also acquired Nippon Steel's remaining interests in I/N Tek and I/N Kote for $183 million, becoming sole owner.

Cleveland-Cliffs Inc. announced it received early termination of the waiting period from the FTC for its proposed acquisition of substantially all of ArcelorMittal USA LLC and its subsidiaries. The deal is expected to close in December 2020.

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.