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Cleveland-Cliffs widens North American lead as top flat-rolled steel producer with new acquisition

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Cleveland-Cliffs Inc. completed a $2.8 billion cash and stock acquisition of Stelco Holdings of Ontario

Cleveland-Cliffs Inc. has completed its $2.8 billion cash and stock acquisition of Stelco Holdings Inc. of Ontario, Canada. CLEVELAND, Ohio - Cleveland-Cliffs Inc. led Northeast Ohio’s mergers and acquisitions activity for the week by completing its $2.8 billion cash and stock

The acquisition adds to Cliffs’ position as the largest flat-rolled steel producer in North America, diversifies the Cleveland company’s end markets and expands its geographical presence in Canada, Cleveland-Cliffs said in a“Today marks a transformative step forward for Cleveland-Cliffs,” Lourenco Goncalves, Cliffs’ chairman, president and CEO, said in a statement.

 

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