Cleveland Cliffs has ended its takeover of iron ore miner Portman Ltd with a 99.27% interest, boosted by acceptances to its offer and on market purchases. Cleveland announced that it would speed up its takeover of Portman by making on market purchases of shares, however, the company stressed that it would not pay more than the takeover offer amount of USD 21.50. At that time, Cleveland held a 94.86% interest. Cleveland will now move to compulsorily acquire the remainder of the Portman shares it does not own.
