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Cliffs Mergers & Acquisitions

Cliffs M&A Summary

Cliffs has acquired 4 companies, including 3 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%).

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

Cliffs

Cleveland-Cliffs, Inc.

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

All (4) Buy (4) Sell (-)
Date Target Value
$mlns 		Transaction Type Acquirer Seller SRC
Link
2024-07-15 Stelco · Metals/Mining
Hamilton, Ontario · www.stelco.com

Stelco is a steel company fully integrated, industry major facilities are among the safest, environmentally progressive, and productive steel plants in the world. Powered by Canadian craftsmanship, Stelco's operations in Hamilton and Nanticoke reflect the strength of each community. Together with employing more than 2,200 people, these fully integrated, industry-leading facilities are among the safest, environmentally progressive, and productive steel plants in the world. Hamilton Works is located on the shore of Lake Ontario in Hamilton, Ontario. Lake Erie Works is located in Nanticoke, Ontario, on the shores of Lake Erie. Stelco produces high-quality steel that is used primarily in the North American automotive, construction, infrastructure, appliance, manufacturing and pipe, and tube industries. Stelco was founded in 1910 and is based in Hamilton, Ontario.

Revenue (mlns) 2,980 CAD
EBITDA (mlns) 491 CAD
Advisors: BMO Capital Markets , McCarthy Tétrault , RBC Capital Markets , Stikeman Elliott 		2,584
6.9x EBITDA
1.1x REVENUE 		Add-on Acquisition

Cliffs
Advisors: Blake, Cassels & Graydon , Davis Polk & Wardwell , J.P. Morgan Securities , Moelis & Co. , Wells Fargo Securities

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