Cleveland Cliffs to buy Canadian steelmaker Stelco in $2.5 billion deal-February 2024-www.financetom.com

Cleveland Cliffs to buy Canadian steelmaker Stelco in $2.5 billion deal

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Cleveland Cliffs to buy Canadian steelmaker Stelco in $2.5 billion deal

Jul 15, 2024 3:31 AM

July 15 (Reuters) -

U.S. steelmaker Cleveland-Cliffs ( CLF ) said on Monday it

would acquire Canadian peer Stelco Holdings ( STZHF ) in a deal

valued at $2.5 billion.

Shares of Cleveland were down nearly 5% in premarket

trade.

The deal, which has received support from David McCall,

International President of the USW union, is expected to close

in the fourth quarter.

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