Cleveland-Cliffs Inc. today announced that it intends to offer to sell, subject to market and other conditions, $550 million aggregate principal amount of Senior Secured Notes due 2028 and $400 million aggregate principal amount of Senior Notes due 2028 in separate offerings that are exempt from the registration requirements of the Securities Act of 1933 . The Unsecured Notes will be guaranteed on a senior unsecured basis [...]
Cleveland-Cliffs Inc. and AK Steel Holding Corporation today announced that, in connection with the anticipated acquisition of AK Steel by Cliffs, Cliffs has commenced offers to purchase for cash any and all outstanding 7.625% Senior Notes due 2021 and 7.50% Senior Secured Notes due 2023 issued by AK Steel Corporation, a wholly owned subsidiary of AK Steel . In conjunction with the Tender Offers, AK Steel Corporation is [...]
Cleveland-Cliffs Inc. and AK Steel Holding Corporation today announced that they have received recommendations from both Glass, Lewis & Co., LLC and Institutional Shareholder Services, Inc. to vote in favor of their proposed merger transaction. Under the pending transaction, Cliffs would acquire all of AK Steel’s outstanding shares pursuant to the Agreement and Plan of Merger entered into by Cliffs and AK Steel [...]
Cleveland-Cliffs Inc. and AK Steel Holding Corporation today announced that they have now received all of the necessary regulatory approvals in connection with their proposed merger transaction. Under the pending transaction, Cliffs would acquire all of AK Steel’s outstanding shares pursuant to the Agreement and Plan of Merger entered into by Cliffs and AK Steel providing for the merger of a subsidiary of Cliffs [...]
Cleveland-Cliffs Inc. today reported fourth-quarter and full-year results for the period ended December 31, 2019. Fourth-quarter 2019 consolidated revenues were $534 million, compared to prior-year fourth-quarter revenues of $696 million. Cost of goods sold were $407 million, compared to $494 million reported in the fourth quarter of 2018. For the fourth quarter of 2019, the Company recorded net income of $63 million, or [...]
Cleveland-Cliffs Inc. today announced that its Board of Directors declared a quarterly cash dividend on the Company's common shares of $0.06 per share. The cash dividend will be payable on April 15, 2020, to shareholders of record as of the close of business on April 3, 2020. About Cleveland-Cliffs Inc. Founded in 1847, Cliffs is the largest and oldest independent iron ore mining company in the United States. Cliffs is a [...]
Cleveland-Cliffs Inc. and AK Steel Holding Corporation today announced that they have extended the expiration date in connection with the previously announced exchange offers by Cliffs and consent solicitations by AK Steel Corporation, a wholly owned subsidiary of AK Steel, to 6:00 a.m., New York City time, on March 13, 2020 . All other terms of the Exchange Offers and Consent Solicitations remain as set forth in the [...]
Cleveland-Cliffs Inc. announced today that it has updated the date of its upcoming earnings release and call to accommodate a sooner-than-expected Shareholder Meeting date to approve the acquisition of AK Steel. The Company will now report its results before the U.S.-market open on Thursday, February 20, 2020. The Company invites interested parties to listen to a live broadcast of a conference call with securities [...]
Cleveland-Cliffs Inc. and AK Steel Holding Corporation today announced that, in connection with the previously announced exchange offers by Cliffs and consent solicitations by AK Steel Corporation, a wholly owned subsidiary of AK Steel, the requisite consents have been received to adopt the proposed amendments to the indentures governing the 6.375% Senior Notes due 2025 and 7.00% Senior Notes due 2027 issued by AK Steel [...]
Cleveland-Cliffs Inc. announced today that it will be reporting fourth-quarter and full-year 2019 financial results before the U.S.-market open on Thursday, February 27, 2020. The Company invites interested parties to listen to a live broadcast of a conference call with securities analysts and institutional investors to discuss the results. When: Thursday, February 27, 2020, at 10 a.m. ET Hosts: Lourenco Goncalves [...]
Cleveland-Cliffs Inc. and AK Steel Holding Corporation today announced that, in connection with the anticipated acquisition of AK Steel by Cliffs, Cliffs has commenced offers to exchange any and all outstanding 6.375% Senior Notes due 2025 and 7.00% Senior Notes due 2027 issued by AK Steel Corporation, a wholly owned subsidiary of AK Steel, as set forth in the table below for the same aggregate principal amount of new [...]
WeissLaw LLP is investigating possible breaches of fiduciary duty and other violations of law by the Board of Directors of AK Steel Holding Corporation in connection with the proposed merger of the Company with Cleveland-Cliffs Inc. . Under the terms of the merger agreement, AK Steel shareholders will receive a fixed exchange ratio of 0.40 CLF shares for each share of AKS common stock owned, for an implied value of $3.36 [...]
+66,67 %
+2,86 %
-17,71 %
-2,17 %
