Loading...
Market
Will Cleveland-Cliffs complete the acquisition of Stelco by December 31, 2024?
3
Resolution / Starting Odds
Yes • 50%
No • 50%
Official press releases from Cleveland-Cliffs or Stelco, financial news outlets like Bloomberg or Reuters
Story
Cleveland-Cliffs to Acquire Stelco in $2.5 Billion Deal; Stock Down 6%
Jul 15, 2024, 10:18 AM
Cleveland-Cliffs has announced the acquisition of Canadian steelmaker Stelco Holdings. The deal is valued at approximately $2.5 billion and includes a combination of cash and shares. Stelco shareholders will receive CAD $70 per share, consisting of CAD $60 in cash and 0.454 Cliffs shares per Stelco share. The acquisition is expected to boost North American steel production, with anticipated cost savings and earnings growth. The total enterprise value of the deal is CAD $3.4 billion. Following the announcement, Cleveland-Cliffs' stock fell by 6%.
View original story
Similar markets
Yes • 50%
No • 50%
Over 10% • 25%
5% to 10% • 25%
0% to 5% • 25%
Negative growth • 25%
Yes • 50%
No • 50%
Over $100 million • 25%
$50 million to $100 million • 25%
Under $50 million • 25%
No savings • 25%
Significant Increase • 25%
Moderate Increase • 25%
No Change • 25%
Decrease • 25%
Yes • 50%
No • 50%
