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For almost a century, the black-hulled Cleveland-Cliffs ships were familiar sights on the upper lakes. Cleveland Cliffs pioneered the electrification of the iron mining process, employee benefits like the eight-hour day, built a company town for miners’ residence, added employee pensions and safety programs. [12]
On March 13, 2020, the company was acquired by Cleveland-Cliffs for $1.1 billion ... a third for an assistance fund for employee benefits of employees not recalled to ...
The community benefits were also front and center in a new letter from several Congressional Black Caucus members, ... employees, and union workers, as well as the US businesses that use steel ...
In July 2023, the iconic steel company rejected a $7.3 billion bid from Cliffs because it worried that federal regulators may disapprove of a merger based on monopoly concerns.
Cliffs proposed that it would split the deal by $17.50 in cash and just over one share's worth of Cliffs stock, which Cleveland-Cliffs presented as being worth $35 per share. The United Steelworkers (USW) union, which maintains a collective bargaining agreement with the company, endorsed Cliffs' offer as the "best strategic partner", as phrased ...
Cleveland-Cliffs continues to do well in the areas of specialized value-added steels, namely automotive-grade, stainless, and electrical steels. ... bringing approximately 600 employees back to ...
Cleveland-Cliffs made a bid for U.S. Steel in 2023, proposing to buy the company for about $7.25 billion. Yet U.S. Steel was worried that a deal with Cleveland-Cliffs, another U.S. company, could ...
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