Steel Mills

Cleveland-Cliffs Clears Antitrust Hurdle to Buy ArcelorMittal USA

Written by Sandy Williams

Cleveland-Cliffs received the all-clear signal from the Federal Trade Commission to move forward with the acquisition of ArcelorMittal USA. Cleveland-Cliffs expects the transaction to complete before the end of the year.

“We are pleased that the federal antitrust authorities have cleared our transaction ahead of schedule. With that, we have a clear path toward closing this transaction next month, as planned,” said Chairman, President and CEO Lourenco Goncalves. “We look forward to realizing the benefits of operating these assets under Cleveland-Cliffs and are excited with the significant optimization potential that will come from the integration with our current footprint.

“As we will soon become the largest flat-rolled steel producer in North America, we pledge to take great care of our expanded workforce and to support manufacturing in our country, through the safe and environmentally friendly production of steel. More than ever, we are ready for a great future for Cleveland-Cliffs and our people.”

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