Why the Cleveland-Cliffs/AK Steel Merger Makes Tons of Sense [The Motley Fool]
Cleveland-Cliffs Inc. (CLF)
Last cleveland-cliffs inc. earnings: 2/20 07:00 am
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clevelandcliffs.com/investors/overview/default.aspx
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Source: The Motley Fool
Why the Cleveland-Cliffs/AK Steel Merger Makes Tons of Sense On Dec. , U.S. iron ore pellet-producer Cleveland-Cliffs ( NYSE:CLF AK Steel NYSE:AKS Both stocks have been affected by volatile steel prices this year. Though Cleveland-Cliffs is a producer of iron ore collapse of the Brumadinho dam Investors were apparently not enthused by the announcement, however, with Cleveland-Cliffs stock down 0.7% on the day of the announcement, though AK Steel's stock rose by .%. Regardless of the initial reaction, however, I think this deal could be a good merger for both parties. Here's why. Cleveland-Cliffs is acquiring AK Steel. Image source: Getty Images. Vertical integration has its benefits The new company will combine Cleveland-Cliffs' iron ore pellet production capabilities, of which it had about % U.S. market share, with AK Steel's blast furnace steel plants and downstream businesses, which make specialized, high-grade steel parts auto industry For AK Steel, that means it will be somewhat
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News
- Cleveland-Cliffs Is A Long-Term Growth Strategy [Seeking Alpha]Seeking Alpha
- Cleveland-Cliffs (CLF) Earnings & Revenues Lag Estimates in Q1 [Yahoo! Finance]Yahoo! Finance
- Cleveland-Cliffs Inc. (NYSE: CLF) had its price target lowered by analysts at JPMorgan Chase & Co. from $24.00 to $23.00. They now have an "overweight" rating on the stock.MarketBeat
- Why Cleveland-Cliffs Plunged on Tuesday [Yahoo! Finance]Yahoo! Finance
- Cleveland-Cliffs shares fall after Q1 earnings miss estimates [Seeking Alpha]Seeking Alpha
CLF
Earnings
- 4/22/24 - Miss
CLF
Sec Filings
- 4/22/24 - Form 8-K
- 4/5/24 - Form 8-K
- 4/3/24 - Form 4
- CLF's page on the SEC website