M&A Deal Summary |
|
|---|---|
| Date | 2019-12-03 |
| Target | AK Steel Holding |
| Sector | Metals/Mining |
| Buyer(s) | Cliffs |
| Deal Type | Add-on Acquisition |
| Deal Value | 3.0B USD |
| Advisor(s) | Goldman Sachs (Financial) Weil Gotshal & Manges (Legal) |
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| Category | Company |
|---|---|
| Founded | 1847 |
| Sector | Metals/Mining |
| Employees | 27,000 |
| Revenue | 23.0B USD (2022) |
Cliffs is the largest and oldest independent iron ore mining company in the United States. Cleveland-Cliffs, Inc. is a major supplier of iron ore pellets to the North American steel industry from its mines and pellet plants located in Michigan and Minnesota. By 2020, Cleveland-Cliffs expects to be the sole producer of hot briquetted iron (HBI) in the Great Lakes region with the development of its first production plant in Toledo, Ohio. Driven by the core values of safety, social, environmental and capital stewardship, Cleveland-Cliffs’ employees endeavor to provide all stakeholders with operating and financial transparency. Cleveland-Cliffs Inc. Cliffs was incorporated in 1847 and is based in Cleveland, Ohio.
| DEAL STATS | # |
|---|---|
| Overall | 1 of 3 |
| Sector (Metals/Mining) | 1 of 2 |
| Type (Add-on Acquisition) | 1 of 1 |
| State (Ohio) | 1 of 1 |
| Country (United States) | 1 of 3 |
| Year (2019) | 1 of 1 |
| Size (of disclosed) | 1 of 3 |
| DATE | TARGET | DEAL TYPE | VALUE |
|---|---|---|---|
| 2020-09-28 |
ArcelorMittal USA
Chicago, Illinois, United States ArcelorMittal USA LLC is engages in manufacturing of steel products. ArcelorMittal USA was founded in 2002 and is based in Chicago, Illinois. |
Buy | $1.4B |
