Cleveland-Cliffs to acquire AK Steel in US$1.1B all-share deal

US iron ore producer Cleveland-Cliffs (NYSE: CLF) is acquiring AK Steel (NYSE: AKS) in an all-share transaction valued at US$1.1 billion. Cliffs, North America’s largest producer of iron ore pellets, is offering shareholders of mid-tier steelmaker AK Steel 0.40 shares...

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