Tag: Cleveland Cliffs
Under the terms of the sale, ArcelorMittal has received $505 million cash, 78 million shares of Cleveland-Cliffs common stock and non-voting preferred stock which is redeemable for approximately 58 million shares of Cleveland-Cliffs common stock or an equivalent amount in cash.
Cleveland-Cliffs Inc. announced that P. Kelly Tompkins, executive VP and CEO, will retire at the end of December. Tompkins assumed his current position in January, 2017, after serving as executive VP and CFO for the past two years.
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.