TORONTO, Oct. 30,
2024 /CNW/ - Cleveland-Cliffs Inc (NYSE:CLF) and
Stelco Holdings Inc. (TSX:STLC) have agreed to merge in a cash and
stock combination. Each share of Stelco Holdings will be exchanged
for 0.454 new Cleveland-Cliffs shares and $60.00 CAD cash. The transaction has
received shareholder and regulatory approvals and is expected to
close on November 1, 2024, subject to
customary closing conditions. Stelco Holdings shares are
expected to delist shortly after closing of the transaction. As a
result, Stelco Holdings's shares will be removed from the
S&P/TSX Composite Index prior to the open of trading on
November 5, 2024.
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