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Cliffs' AK Steel acquisition: a win-win deal
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Report summary
On 3 December 2019 Cleveland-Cliffs and AK Steel announced that they have entered into a definitive merger agreement whereby Cliffs will acquire all of the issued and outstanding shares of AK Steel common stock. Cliffs is North America’s largest producer of iron ore pellets. AK Steel, US’ fourth largest steelmaker. We provide our take on the agreement, including background and implications for both companies.
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