Cleveland Cliffs Buying Steel Maker Arcelor-Mittal

Cleveland Cliffs

CLEVELAND - Two companies with a major presence in Cleveland will become one. Cleveland-Cliffs, the Cleveland based company that mines and ships iron ore, is purchasing the American assets of steelmaker Arcelor-Mittal, the India-based company which has a number of steel mills in the United States including Cleveland.

It’s a $1.4 billion stock and cash deal.

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