Cleveland-Cliffs to buy ArcelorMittal’s US business
ArcelorMittal plans to use $500m of the cash proceeds to repurchase shares, starting immediately
28 September 2020 - 09:20
San Francisco, US — Cleveland-Cliffs will buy the US operations of ArcelorMittal for $1.4bn in cash and shares to become the biggest flat-rolled steel producer in North America.
Cleveland-Cliffs will pay about $873m of common and nonvoting preferred stock, and $505m in cash, according to a statement...
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