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Cleveland-Cliffs Buying AK Steel Through All-Stock Transaction

publication date: Dec 3, 2019
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Image Shown: A tale of two charts, with Cleveland-Cliffs Inc in blue and AK Steel Holding Corporation in orange, after the announcement was that that the former would acquire the latter in an all-stock deal.

On December 3, Cleveland-Cliffs agreed to acquire AK Steel Holding Corporation through an all-stock deal, creating a vertically integrated producer of iron ore and steel products in the US. Cleveland-Cliffs operates three iron ore mines in Michigan and Minnesota, along with a hot briquetted iron production plant in Ohio that’s under-construction, and AK steel operates steel mills in North America along with related facilities in Western Europe.

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