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CLF - Cleveland-Cliffs Made A Fine Deal With AK Steel
Cleveland-Cliffs Inc.
December 3rd turned out to be a pretty big day for some investors in the US steel industry. News broke that Cleveland-Cliffs (CLF), a major US-based iron ore mining company would be acquiring AK Steel Holding Corporation (AKS) in a deal valued at about $1.1 billion in an all-stock merger. This move left investors in Cleveland-Cliffs feeling jaded, as concerns arose over the price the company agreed to pay for AK Steel, while the opposite was true of AK Steel's shareholders. At the end of the day, if management can achieve