Reported 6 months ago
Cleveland-Cliffs Inc. is in negotiations to purchase the US Midwest assets of Russia's Novolipetsk Steel PJSC, including steel-mill facilities in Indiana and Pennsylvania, potentially valued at over $500 million. This deal would mark Cliffs' first major move in dealmaking since a failed attempt to acquire United States Steel Corp. Discussions are ongoing, and while representatives for both companies declined to comment, Cliffs has shown interest in expanding its operations through acquisitions following previous deals in the steel industry.
Source: YAHOO