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    July 15, 2024

    Cleveland-Cliffs to buy Stelco in $2.5B deal

    Written by Laura Miller

    Cleveland-Cliffs Inc. has agreed to purchase Canada’s Stelco Holdings Inc. in a deal valued at $2.5 billion (CA$3.4 billion).

    The Cleveland-based steelmaker announced on Monday morning that it has signed a definitive agreement to buy the Hamilton, Ontario-based steel company. The boards of both companies have unanimously approved the deal. It is expected to close in the fourth quarter of this year, subject to Stelco shareholder and regulatory approvals.

    Laura Miller

    Laura Miller is a reporter and editor for Steel Market Update. She has held various editorial positions with steel industry publications, associations, and mills since 2007. She joined the SMU team in 2022. She is a member of the Association of Women in the Metal Industries and a past-president of the AWMI Pittsburgh Chapter. She holds a BA in Latin American Studies from Edinboro University of Pennsylvania.

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