cleveland cliffs acquires ak steel

CLEVELAND--(BUSINESS WIRE)-- Cleveland-Cliffs Inc. (NYSE: CLF) today announced that it has successfully completed the acquisition of substantially all of the operations of ArcelorMittal USA LLC and its subsidiaries ("ArcelorMittal USA"), forming the largest flat-rolled steel producer in North America.On a full-year 2019 basis, the combined Company generated pro-forma revenues of . News. AKS and CLF may also file other documents with the SEC regarding the proposed transaction. Photo courtesy of AK Steel. For more information, visit http://www.clevelandcliffs.com, MEDIA CONTACT: QuoteMedia. Cleveland-Cliffs to acquire AK Steel for $1.1B. Cleveland-Cliffs Inc. recently completed the acquisition of AK Steel Holding Corporation. The definitive joint proxy statement/prospectus will be sent to the shareholders of AKS and the shareholders of CLF. According to a news release from Cleveland-Cliffs, the combined company will be led by Chairman . Under the terms of the merger agreement, AK Steel shareholders . “I am honored to be leading a Company that is built on such a rich history, and now combines mining, pelletizing, direct-reduction, EAF steelmaking, BF/BOF steelmaking, highly technologically developed finishing mills and automated manufacturing of auto-parts.” Mr. Goncalves concluded: “I am also very pleased to welcome the AK Steel employees and the unions representing the workforce throughout the country to the Cleveland-Cliffs family. AK Steel will become a direct, wholly-owned subsidiary of Cliffs and will retain its branding and corporate identity. Eric Schwartzberg, Journal-News. We look forward to welcoming the AK Steel team into our organization and creating a unique company focused on executing value-enhancing opportunities for all of our stakeholders.”, Roger K. Newport, CEO of AK Steel, added, “We believe this transaction is a compelling opportunity for AK Steel shareholders to participate in the substantial upside potential of what will be a premier vertically integrated producer of value-added iron ore and steel products with significant scale and diversification. The call will be broadcast live and archived on Cliffs' website at www.clevelandcliffs.com and on AK Steel’s website at www.aksteel.com. Iron ore mining company Cleveland-Cliffs Inc. will acquire West Chester-based steel maker AK Steel Holding Corp. in a $1.1 billion stock deal, the companies announced Tuesday. Also noteworthy is that the deal, assuming it closes . Cleveland-Cliffs Inc. and AK Steel, a leading producer of flat-rolled carbon, stainless and electrical steel products, entered into a definitive merger agreement pursuant to which Cliffs will acquire all of the issued and outstanding shares of AK Steel common stock. The transaction implied an aggregate consideration to AK Steel shareholders of approximately $1.1 billion on a fully diluted basis, a total enterprise value of approximately $3 billion for AK Steel and an acquisition multiple of 5.6x LTM Adjusted EBITDA. Additional information regarding the interests of these participants and other persons who may be deemed participants in the proposed transaction may be obtained by reading the joint proxy statement/prospectus and other relevant materials to be filed with the SEC when such materials become available. Cleveland-Cliffs Inc. Cleveland-Cliffs Inc., formerly Cliffs Natural Resources, is a Cleveland, Ohio -based company that specializes in the mining, beneficiation, and pelletizing of iron ore, as well as steelmaking, including stamping and tooling. Cleveland-Cliffs (NYSE:CLF) agrees to acquire AK Steel (NYSE:AKS) in an all-stock deal valued at ~$1.1B.Under the deal terms, AKS shareholders will receive 0.40 shares of CLF common stock. The transaction has been unanimously approved by both companies’ Boards, and both Boards recommend that their respective shareholders vote in favor of the transaction. Dec 03, 2019. From now on, we are a single, united and very strong team.”, Founded in 1847, Cleveland-Cliffs is among the largest vertically integrated producers of differentiated iron ore and steel in North America. merger of Cleveland-Cliffs and AK Steel on anticipated terms and timetable; our ability to obtain the required approvals by Cleveland-Cliffs' shareholders and AK Steel's stockholders and to satisfy various . CLEVELAND--(BUSINESS WIRE)-- Cleveland-Cliffs Inc. (NYSE: CLF) announced today that it has successfully completed the acquisition of AK Steel Holding Corporation, integrating North America's largest producer of iron ore pellets downstream into the production of value-added steel and specialty manufactured parts for the automotive industry. Under the terms of the merger agreement, AK Steel shareholders will receive 0.40 shares of Cliffs common stock for each outstanding share of AK Steel common stock they own. EBITDA – Capex. Cleveland-Cliffs (CLF) to Acquire AK Steel (AKS) in All-Stock Deal Article Related Press Releases ( 1 ) Related Articles ( 1 ) Stock Quotes (2) FREE Breaking News Alerts from StreetInsider.com! Annotation. For more information, visit http://www.clevelandcliffs.com. IMPORTANT INFORMATION ABOUT THE TRANSACTION AND WHERE TO FIND IT. PD=Previous Day. Cleveland-Cliffs acquires AK Steel in $1.1 billion stock swap, Employee Benefits & Executive Compensation. 2 CLEVELAND-CLIFFS TO ACQUIRE ARCELORMITTAL USA Increased exposure to highly desirable automotive end market Clear line-of-sight to approximately $150 million of cost synergies (run-rate by end of year 1) through asset optimization, purchasing savings, duplicative overhead, etc. Our track record of providing high-grade iron ore combined with AK Steel’s recognized ability to produce the highest quality steel grades, creates a highly complementary and compelling business model. Cleveland-Cliffs Completes Acquisition of AK Steel. Originally published in 1977, the chapters in this volume derive from a conference on Perceiving, Acting and Knowing held by the Center for Research in Human Learning at the University of Minnesota in 1973. 15 minutes unless otherwise indicated (view March 13, 2020. The $3 billion move on Friday means integrating North America's largest producer of iron . JSW Steel (USA) Inc. and JSW USA Steel Ohio, Inc. announced the filing of a federal court lawsuit in the Southern District of Texas against three of the largest domestic steel companies, Nucor Corp., United States Steel Corp., and Cleveland-Cliffs, Inc., including its recent acquisition, AK Steel Holding Corp. Overnight news broke that Cleveland Cliffs (CLF) agreed to acquire AK Steel in an all-stock deal valued at $1.1 billion. Mining law reform: hearing before the Committee on Energy and Natural Resources, United States Senate, One Hundred Eleventh Congress, first session, to receive testimony on S. 796, Hardrock Mining and Reclamation Act of 2009 and S. 140, ... The combined company will be led by Chairman, President and Chief Executive Officer Lourenco Goncalves. The fixed exchange ratio implied a consideration of $3.36 per share of AK Steel common stock and represents a premium of 16% based on the closing share prices of Cliffs and AK Steel common shares, respectively, as of December 2, 2019, and a premium of 27% based on the 30-day volume weighted average price of AK Steel common shares. Under the terms of the merger agreement, AK Steel shareholders will receive 0.40 shares of Cliffs common stock for each outstanding share of AK Steel common stock they own. Free copies of these documents may be obtained from the sources indicated above. Cleveland-Cliffs Inc. (NYSE: CLF) is acquiring the common stock of AK Steel Holding Corp. (NYSE: AKS) in a merger agreement announced Tuesday morning. The acquisition creates a vertically integrated company between iron ore pellet producer . The International Encyclopedia of Men and Masculinities offers a comprehensive guide to the current state of scholarship about men, masculinities, and gender around the world. This press release features multimedia. Other factors that may present significant additional obstacles to the realization of forward looking statements or which could have a material adverse effect on AKS’ or CLF’s respective consolidated financial condition, results of operations, credit rating or liquidity are contained in AKS’s and CLF’s respective periodic reports filed with the SEC, including the AKS 10-K and CLF 10-K. Lourenco Goncalves, CEO of Cleveland-Cliffs "This is a new era for Cleveland . Information regarding CLF’s directors and executive officers, including a description of their direct interests, by security holdings or otherwise, is set forth in CLF’s Form 10-K for the fiscal year ended December 31, 2018, filed with the SEC on February 8, 2019 (the “CLF 10-K”), and its proxy statement filed with the SEC on March 12, 2019. Forward-looking statements by their nature address matters that are, to different degrees, uncertain, such as statements about the consummation of the proposed transaction and the anticipated benefits thereof. The combined company will be ideally positioned to provide high-value iron ore and steel solutions to customers primarily across North America. Headquartered in Cleveland, Ohio, Cleveland-Cliffs employs approximately 12,000 people across mining and steel manufacturing operations in the United States, Canada and Mexico. According to a news release from Cleveland-Cliffs, the combined company will be led by Chairman . The world's most comprehensive, well documented, and well illustrated book on this subject. The deal combines North America's largest iron ore pellets producer and a leading producer of innovative flat-rolled carbon, stainless and electrical steel products . Late last year, Cleveland-Cliffs bought AK Steel in a stock . Cleveland-Cliffs Inc. (NYSE: CLF) said Tuesday it will acquire all of the issued and outstanding shares of AK Steel Holding Corporation (NYSE: AKS) common stock valued at $1.1 billion. After the acquisition, the combined entity would . AK Steel shareholders will receive 0.40 shares of Cliffs common stock for […] EVANSVILLE, Ind. Creates largest flat-rolled steel producer in North America https://www.businesswire.com/news/home/20191203005504/en/, www.clevelandcliffsaksteel.acquisitionannouncement.com. Lisa H. Jester No offer of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended. Lourenco Goncalves, Chairman of the Board, President and CEO of Cliffs, will lead the expanded organization. Cleveland Cliffs has entered a merger agreement to acquire AK Steel, West Chester, Ohio. Cleveland-Cliffs does about $2 billion in annual revenue. In a move to make Cleveland-Cliffs Inc. (NYSE: CLF) more vertically integrated, the Cleveland-based company and West Chester, Ohio-based AK Steel Holding Corp. (NYSE: AKS) announced Tuesday, Dec. 3, that they have entered into a definitive merger agreement that allows Cliffs to acquire all of AK's issued and outstanding shares of common stock.. The Butler plant employs about 1,400 hourly and salaried workers and has 1,469 retirees and 562 surviving spouses. Cleveland-Cliffs Completes Acquisition of AK Steel. Compelling financial profile with strong balance sheet, expected earnings accretion, and . Shareholder Claims provides practical guidance on bringing claims including derivative claims under the UK Companies Act 2006, and claims under the Financial Services and Markets Act 2000, equivalent procedure in European centres and class ... Cleveland-Cliffs Inc. and AK Steel Holding Corporation have entered into a definitive merger agreement in which Cliffs will acquire all of the issued and outstanding shares of AK Steel common stock. Paul Finan Cleveland-Cliffs Inc. and AK Steel Holding Corporation announced today that they have . This groundbreaking first volume of the Series has a number of features that set it apart from other books on this subject: Firstly, it focuses on interpersonal, humanistic and ecological views and approaches to P/MH nursing. Corporate Manager, Communications and Public Relations Market Data powered by However, there is a widening gap between this data storage and usage of the data. Business intelligence techniques can help an organization obtain and process relevant accounting data quickly and cost efficiently. Found inside – Page 51-10PolyMet Mining Corp. , 2006a , PolyMet concludes Minnesota asset purchase from Cleveland - Cliffs : Victoria , British ... Sherritt International Corporation , March , Vale Inco Limited , 2007 , World stainless steel statistics — 2007 ... The $1.1 billion deal, CEO Goncalves says, will add value to both companies' products. To ensure the most secure and best overall experience on our website we recommend the latest versions of, Internet Explorer is no longer supported. Douglas O. Mitterholzer Patricia Persico Cleveland-Cliffs Inc. Jones Day advised Cleveland-Cliffs Inc. (NYSE: CLF) in its merger with AK Steel Holding Corporation (NYSE: AKS) pursuant to which Cliffs acquired all of the issued and outstanding shares of AK Steel common stock. Investors and securityholders may obtain free copies of the registration statement and the joint proxy statement/prospectus (when available) and other documents filed with the SEC by AKS or CLF through the web site maintained by the SEC at www.sec.gov. Cleveland-Cliffs Completes Acquisition of AK Steel. To ensure the most secure and best overall experience on our website, we recommend the latest versions of. SEATTLE (Scrap Monster): Cleveland-headquartered Cleveland-Cliffs, Inc. announced that it has completed acquisition of West Chester, Ohio-based AK Steel Holding Corporation. ​The objective of this book is to concisely present information with respect to appropriate use of experimental rodents in research. The $3 billion move on Friday means integrating North America's largest producer of iron . Excludes HBI-related 9/30/2019 LTM capex of $415m, per Cliffs’ filings. Goldman Sachs & Co. LLC is acting as financial advisor to AK Steel and Weil, Gotshal & Manges LLP is serving as legal counsel. AK Steel announced today it has entered an acquisition agreement with Cleveland-based Cleveland-Cliffs Inc. estimated to be worth about $3 billion. CLEVELAND-- ( BUSINESS WIRE )--Cleveland-Cliffs Inc. (NYSE: CLF) announced today that it has . The acquisition was completed in March, integrating Cliffs as a mine operator and North America's largest producer of iron ore pellets, downstream into the production of value-added steel and specialty manufactured parts for the automotive industry by AK Steel. Headquartered in West Chester, Ohio (Greater Cincinnati), the company has approximately 9,500 employees at manufacturing operations in the United States, Canada and Mexico, and facilities in Western Europe. Driven by the core values of safety, social, environmental and capital stewardship, Cleveland-Cliffs’ employees endeavor to provide all stakeholders with operating and financial transparency. Cleveland-Cliffs Inc. (NYSE: CLF) and AK Steel Holding Corporation (NYSE: AKS) are pleased to announce that they have entered into a definitive merger agreement pursuant to which Cliffs will acquire all of the issued and outstanding shares of AK Steel common stock. Cleveland-Cliffs will demolish the Ashland Works facility that accompanied its 2020 acquisition of AK Steel, Steel Market Update reported. CLEVELAND--(BUSINESS WIRE)--Cleveland-Cliffs Inc. (NYSE: CLF) announced today that it has successfully completed the acquisition of AK Steel Holding Corporation, integrating North America’s largest producer of iron ore pellets downstream into the production of value-added steel and specialty manufactured parts for the automotive industry. 2 Pro forma numbers include $120 million in anticipated synergies and utilizes each companies’ respective methodologies of calculating Adj. CLEVELAND — Cleveland-Cliffs, North America's largest producer of iron ore pellets, and AK Steel, a leading producer of innovative flat-rolled carbon and stainless-steel products, have . We will be catering to a desirable customer base and primarily doing business in the United States, the most resilient manufacturing economy in the world,” said Mr. Goncalves. The fixed exchange ratio implies a consideration of $3.36/share. Cliffs will continue to be listed on the NYSE with its headquarters in Cleveland, while maintaining a significant presence at AK Steel’s current offices in West Chester, Ohio along with its Research and Innovation Center in Middletown, Ohio. Cleveland-Cliffs to acquire AK Steel for $1.1B. Lourenco Goncalves, Chairman of the Board, President and CEO of Cliffs, will lead the expanded organization. Data delayed Under the . CLEVELAND & WEST CHESTER, Ohio — Cleveland-Cliffs Inc. and AK Steel Holding Corporation are pleased to announce that they have entered into a definitive . The Company will discuss the acquisition in further detail on its third-quarter 2021 earnings conference call on October 22, 2021, at 10:00am ET. In connection with the proposed transaction involving AK Steel Holding Corporation (“AKS”) and Cleveland-Cliffs Inc. (“CLF”), CLF will file with the Securities and Exchange Commission (the “SEC”) a registration statement on Form S-4 that will include a joint proxy statement of AKS and CLF, which also constitutes a prospectus of CLF. Founded in 1847, Cleveland-Cliffs is the largest and oldest independent iron ore mining company in the United States. The $1.1bn all-stock transaction will vertically integrate the combined company throughout the entire steel supply chain, including iron ore, pellet and steel production. Mr. Goncalves stated: “We are excited to be able to deliver real value to the shareholders of both Cliffs and AK Steel through a value enhancing and leverage-neutral transaction. Forward-looking statements are based on assumptions and estimates that are inherently affected by economic, competitive, regulatory, and operational risks and uncertainties and contingencies that may be beyond AKS’s or CLF’s control. About Cleveland-Cliffs Inc. Cleveland-Cliffs is the largest flat-rolled steel producer in North America. Under the terms of the merger agreement, AK Steel shareholders received 0.40 shares of Cliffs common stock for each outstanding share of AK Steel common stock they own. Cleveland-Cliffs Inc. (NYSE: CLF) has completed its acquisition of West Chester, Ohio-based AK Steel Holding Corp. Cliffs first announced the acquisition, valued at more than $1 billion, in December, and shareholders of both companies officially voted to approve it earlier this week, on March 10.. This book constitutes the refereed proceedings of the 7th International Conference on Artificial Immune Systems, ICARIS 2008, held in Phuket, Thailand, in August 2008. Following completion of the transaction, with Mr. Goncalves leading the expanded organization, Mr. Newport will retire as CEO and a Director of AK Steel. This book is a textbook for Urban/Community Forestry courses and a handbook for Shade Tree Commissions, tree wardens, State and National Forestry Services, and professional societies. By. If Cliffs can pull off another deal after buying AK, Wall Street . (216) 650-0168, AK Steel It's estimated to be worth about $1.1 . (216) 694-6544, Internet Explorer presents a security risk. AK Steel and Cleveland-based Cliffs released details of the proposed merger Tuesday morning. Cleveland-Cliffs Inc. and AK Steel Holding Corporation have entered into a definitive merger agreement pursuant to which Cliffs will acquire all of the issued and outstanding shares of AK Steel common stock. The facility has been idled since 2019. Cleveland-Cliffs Inc. and AK Steel Holding Corporation announced today that they have entered into a merger agreement that will see Cliffs acquire . Found inside – Page 11Oct . 7 1.5 AK Steel Names Three Vice President Positions Jan. ... Acquisition Approved . ... 12 .10 Buenaventura Elects Directors For Two - Year Term April 1 ..12 Cleveland - Cliffs Announces Personnel Appointments .Feb . The definitive, bestselling text in the field of change management, Making Sense of Change Management provides a thorough overview of the subject for both students and professionals. This communication is not intended to and shall not constitute an offer to sell or the solicitation of an offer to sell or the solicitation of an offer to buy any securities or a solicitation of any vote of approval, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. 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. INVESTORS AND SECURITYHOLDERS ARE URGED TO READ THE REGISTRATION STATEMENT, THE JOINT PROXY STATEMENT/PROSPECTUS AND ANY OTHER RELEVANT DOCUMENTS THAT ARE FILED OR WILL BE FILED WITH THE SEC, AS WELL AS ANY AMENDMENTS OR SUPPLEMENTS TO THESE DOCUMENTS, CAREFULLY AND IN THEIR ENTIRETY BECAUSE THEY CONTAIN OR WILL CONTAIN IMPORTANT INFORMATION ABOUT THE PROPOSED TRANSACTION AND RELATED MATTERS. Cleveland-Cliffs to acquire AK Steel. Cleveland-Cliffs to Acquire AK Steel for $1.1 Billion. Clients This book provides an overview of human development and includes the relationship between motor development and cognitive and social development. March 18, 2020. Cleveland-Cliffs to acquire AK Steel. Cleveland-Cliffs to Acquire AK Steel. Numbers include $ 120 million in anticipated synergies and utilizes each companies ’ respective of... Agreement, cleveland cliffs acquires ak steel Steel shareholders received 0.40 common stock shares from Cleveland-Cliffs for each share of AK Steel... /a... 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