Cleveland-Cliffs to acquire ArcelorMittal USA for $1.4bn

摘要

Cleveland-Clifs Inc. has entered into a definitive agreement with ArcelorMittal S.A. to acquire substantially all of the operations of ArcelorMittal USA LLC and its subsidiaries for about $1.4bn. Upon the transaction’s closing, Cleveland-Cliffs will be the largest ?at-rolled steel producer in North America, with combined shipments of about 17 mst (short tons) in 2019, Cliffs said. The company will also be the largest iron ore pellet producer in North America, with about 28.5 mst of annual capacity.