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Cleveland-Cliffs manages and operates four iron ore mines in Minnesota and two mines in Michigan, one of which, the Empire Mine, has been indefinitely idled. [3] These mines produce various grades of iron ore pellets, including standard and fluxed, for use in blast furnaces as part of the steelmaking process as well as Direct Reduced (DR) grade pellets for use in direct reduced iron (DRI ...
As of 2020, its assets were owned by Cleveland-Cliffs. Inland Steel was an integrated steel company that reduced iron ore to steel. It specialized in the basic open hearth steelmaking process. This produced a steel that was resistant to extreme temperature, unlike those made from the Bessemer or acid open hearth processes. [1]
In August 2023, U.S. Steel became the target of a bidding war. [27] Cleveland-Cliffs was one of the first companies to make a bid, offering $7.8 billion to acquire the company. 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 ...
AK Steel Holding Corporation (NYSE: AKS ) has entered into a definitive merger agreement with Cleveland-Cliffs Inc (NYSE: CLF ), in which the latter will acquire all the shares of the steelmaker ...
NEW YORK (Reuters) -U.S. Steel Corp is locked in a spat with rival steelmaker Cleveland-Cliffs Inc over a confidentiality pact that would allow the latter to participate in a sale process that is ...
The deal will enable Cleveland-Cliffs (CLF) to transform into a vertically-integrated steel company that will likely boost profitability of both companies. Cleveland-Cliffs to Buy AK Steel in $1 ...
AK Steel answered the complaint and filed counterclaims (AK Steel Corp. v. AEIF, Case No. 1:05-CV-531) on November 2, 2005. [38] On March 1, 2006, AK Steel began a lockout of about 2,700 workers at the Middletown Works plant in Middletown, Ohio. [39] By the next day, the mill was operated by 1,800 salaried and temporary replacement workers.
The exchange offers and consent solicitations are conditional upon the consummation of the pending acquisition of AK Steel by Cleveland-Cliffs (CLF) pursuant to the merger agreement.