Steel News

U.S. Government OKs Cleveland-Cliffs Acquisition  

11/25/2020 - U.S. anti-trust regulators have cleared Cleveland-Cliffs Inc.’s planned acquisition of rival ArcelorMittal USA, the steelmaker said Wednesday. 

In an announcement, Cleveland-Cliffs said the approval re-affirms its plans to close on the deal next month. 

“We have a clear path toward closing this transaction next month, as planned. We look forward to realizing the benefits of operating these assets under Cleveland-Cliffs, and are excited with the significant optimization potential that will come from the integration with our current footprint,” said Cleveland-Cliffs chairman and chief executive Lourenco Goncalves.

Cliffs announced in September that it planned to acquire just about all of ArcelorMittal’s U.S. assets, a deal that will make Cliffs the largest flat-rolled producer in the U.S.