Cliffs - M&A Summary and Business Overview

Metals/miningCompany

Cliffs M&A Summary

Cliffs has acquired 4 companies, including 4 in the last 5 years.

Cliffs’ largest acquisition to date was in 2019, when it acquired AK Steel Holding for $3.0B. Cliffs has acquired in 3 different US states, and 2 countries. The Company’s most targeted sectors include metals/mining (75%) and environmental (25%).

Cliffs Business Overview

Where is Cliffs headquartered?

Cliffs is headquartered in Cleveland, Ohio.

What is Cliffs’ revenue?

Cliffs disclosed revenue of 21,996M USD for 2023 and 22,989M USD for 2022.

How many employees does Cliffs have?

Cliffs has 28,000 employees.

What sector is Cliffs in?

Cliffs is a metals/mining company.

When was Cliffs founded?

Cliffs was founded in 1847.

M&A Summary

  • M&A Total Activity4
    • M&A Buy Activity4
  • Total Sectors Invested 2
  • Total Countries Invested 2
  • M&A Buy/Sell Connections 2
  • M&A Advisors 6

Cliffs

Cleveland-Cliffs, Inc.

200 Public Square, Suite 3300,
Cleveland, Ohio 44114
United States,
(216) 694-5700
www.clevelandcliffs.com

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.


M&A Summary

Buy vs Sell

Year ≤ '19 '20 '21 '22 '23 '24 T
Buy (0.6/yr) # 1 1 1 - - 1 4
vol $3.0B $1.4B $775M $2.6B $7.8B
Sell (0.0/yr) # - - - - - - 0
  4

Most Recent M&A

Company Date Value Type
Stelco Holdings, Inc. 2024-07-15 2.6B CAD Add-on Acquisition
Hamilton, Ontario · www.stelco.com
Ferrous Processing & Trading Co. 2021-10-11 775M USD Divestiture
Detroit, Michigan · www.fptscrap.com
ArcelorMittal USA LLC 2020-09-28 1.4B USD Divestiture
Chicago, Illinois · www.usa.arcelormittal.com
AK Steel Holding Corp. 2019-12-03 3.0B USD Add-on Acquisition
West Chester, Ohio · www.aksteel.com
View All >>

M&A by Sector

Sector Buy # Value Sell # Value
Metals/Mining 3 (75%) 7.0B (90%) - -
Environmental 1 (25%) 775M (10%) - -
Total 4 $7.8B - -

By Geo

State/Country Buy Value Sell Value
United States 3 5.2B - -
  Ohio 1 3.0B - -
  Michigan 1 775M - -
  Illinois 1 1.4B - -
Canada 1 2.6B - -
  Ontario 1 2.6B - -
Domestic 3 (75%) 5.2B (67%) - -
Cross-border 1 (25%) 2.6B (33%) - -
Total 4 $7.8B - -

Top M&A Advisors

Financial Deals
Moelis & Co.
 2
Credit Suisse Investment Banking
 1
J.P. Morgan Securities
 1
Legal Deals
Davis Polk & Wardwell
 1
Blake, Cassels & Graydon
 1
Jones Day
 1

Deal Values

buy # Total
> $1B 3 $7.0B
$100M to $1B 1 $775M
TOTAL $7.8B
Largest AK Steel Holding Corp.
$3.0B (2019-12-03)

M&A Connections

Deals
Acquired from
Strategic(s)
50%
2 (50%)

Company Summary

SECTOR

Metals/Mining

Revenue

21,996   5% 2023
22,989   13% 2022
20,444   282% 2021
5,354   170% 2020
1,990   15% 2019
2,332   1% 2018
2,330   11% 2017
2,109   5% 2016
2,013   2015
(millions of USD) Show More Show Less

Employees

28,000

Established

1847

Public

NYSE: CLF

Former Name

Cliffs Natural Resources, Inc.

 Subscribe to unlock this and 207,390
investor and company profiles

Sign-up today to get full access

  • check  Unlimited Searches
  • check  Unlimited Profile Views
  • check  Build and Export Lists of
    • PE Backed Companies
    • Direct Investors & Acquirers
    • Advisors
    • Deals
    • & More
1 Week Free Trial Learn More

What's Mergr?

We built Mergr to save people the arduous and time-consuming process of tracking when companies are bought, sold, and who currently owns them.

Every day, new opportunities emerge around M&A and we help professionals of all types comb through transactions, investors, and corporate acquirers via an easy-to-use web database that is accessible to anyone.

Try us for 1 week free today!

Mergr, the Easiest-to-Use PE and M&A DB

Key Benefits

  • Stay informed on events in your industry
  • M&A research that takes seconds (not all afternoon)
  • Better understand your customers and prospects
  • Discover active buyers (or sellers)
Search
  • 4.6K Private Equity Firms
  • 200K M&A Transactions
  • 203K Companies Involved in M&A
    (Buyer, Seller, or Target)
  • 3.6K M&A Advisors
    (Investment Banks and Law Firms)
  • 81K M&A Contacts
    (PE and M&A Advisors)

Ready to try?

Join FREE for 1 Week

No obligation. Cancel anytime.

Related Lists for Cliffs

Ohio Companies , Metals/Mining Companies , United States Companies , Ohio Metals/Mining Companies , Ohio Metals/Mining with Acquisitions , Ohio Metals/Mining with Divestitures

Related Lists for Ohio Companies

Largest Ohio Companies , Acquisitive Ohio Companies , Recently Acquired Ohio Companies , Recently Sold Ohio Companies , Private Ohio Companies , Public Ohio Companies , Acquired Ohio Companies , PE Backed Ohio Companies

Related Lists for Metals/Mining Companies

Largest Metals/Mining Companies , Acquisitive Metals/Mining Companies , Recently Acquired Metals/Mining Companies , Recently Sold Metals/Mining Companies , Private Metals/Mining Companies , Public Metals/Mining Companies , Acquired Metals/Mining Companies , PE Backed Metals/Mining Companies

Related Lists for United States Companies

Largest United States Companies , Acquisitive United States Companies , Recently Acquired United States Companies , Recently Sold United States Companies , Private United States Companies , Public United States Companies , Acquired United States Companies , PE Backed United States Companies
Mergr

Product

Company

Legal