Cleveland-Cliffs Announces Shareholder Approval Of Arrangement To Acquire Stelco
Portfolio Pulse from Benzinga Newsdesk
Cleveland-Cliffs Inc. (NYSE:CLF) has received shareholder approval for its acquisition of Stelco Holdings Inc. The transaction is expected to close in Q4 2024, making Stelco a wholly-owned subsidiary of Cliffs.
September 16, 2024 | 8:15 pm
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Cleveland-Cliffs has secured shareholder approval for its acquisition of Stelco, with the transaction expected to close in Q4 2024. This strategic move will make Stelco a wholly-owned subsidiary, potentially enhancing Cliffs' market position.
The acquisition approval is a significant step for Cleveland-Cliffs, as it will expand its operations and market reach by acquiring Stelco. The high approval rate (99.97%) indicates strong shareholder support, which is positive for CLF's strategic growth plans.
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