Cleveland-Cliffs Inc

NYSE:CLF   3:59:59 PM EDT
-0.40 (-1.89%)
4:34:01 PM EDT: $20.70 -0.02 (-0.10%)
Equity Investments, Other Pre-Announcement, Mergers / Acquisitions

Cleveland-Cliffs Says Co To Acquire All Of Operations Of Arcelormittal Usa & Its Subsidiaries For About $1.4 Bln

Published: 09/28/2020 05:59 GMT
Cleveland-Cliffs Inc (CLF) - To Acquire Arcelormittal USA.
Transaction is Anticipated to Be EPS Accretive.
Cleveland-co Will Acquire Substantially All of Operations of Arcelormittal USA & Its Subsidiaries for About $1.4 Billion.
Cleveland-cliffs - Expects Acquisition to Reduce Company's Leverage From 4.3x to 3.6x on a Pro-forma 2019 Adjusted EBITDA Basis.
Arcelormittal USA Will Be Acquired by Cleveland-cliffs on a Cash-free and Debt-free Basis.
Enterprise Value of Transaction is Approximately $3.3 Billion.