Cleveland-Cliffs Inc

NYSE:CLF   3:59:59 PM EDT
-0.74 (-3.78%)
Debt Financing / Related, Divestitures / Spin-offs, Share Repurchases

ArcelorMittal Sells Remaining Cleveland-Cliffs Common Stock

Published: 06/18/2021 06:20 GMT
Cleveland-Cliffs Inc (CLF) - Arcelormittal Announces Sale of Cleveland-cliffs Common Stock With the Proceeds to Be Returned to Shareholders Via a $750 Million Share Buyback.
Conclusion of Sale of Its Remaining 38.2 Million Common Shares in Cleveland-cliffs Inc.value Crystalized From This Sale of Will Be Returned to Shareholders Via a New $750 Million Share Buyback Program of Arcelormittal Common Shares.
New Share Buyback Program Will Commence Immediately and Follows Previous Buyback Program Which is Now Complete.
Disposal of Remaining Common Shares in Cleveland Cliffs Brings Total Cash Proceeds From Sale of Arcelormittal USA to $1.9 Billion So Far.
Arcelormittal North America Holdings Llc Continues to Hold Non-voting Preferred Stock Redeemable at Cleveland-cliffs' Option.