Cleveland-Cliffs (CLF) Completes ArcelorMittal USA Acquisition

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Go back to Cleveland-Cliffs (CLF) Completes ArcelorMittal USA Acquisition

Cleveland-Cliffs Inc. Completes Acquisition of ArcelorMittal USA

December 9, 2020 8:11 AM EST

CLEVELAND--(BUSINESS WIRE)-- Cleveland-Cliffs Inc. (NYSE: CLF) today announced that it has successfully completed the acquisition of substantially all of the operations of ArcelorMittal USA LLC and its subsidiaries (ArcelorMittal USA), forming the largest flat-rolled steel producer in North America. On a full-year 2019 basis, the combined Company generated pro-forma revenues of approximately $17 billion and combined adjusted EBITDA of approximately $1.7 billion, including previously disclosed expected synergies.

In connection with the acquisition of ArcelorMittal USA, which includes the interests of ArcelorMittal USA of 60% in I/N Tek L.P. and 50% in I/N Kote... More