Friday 27 November 2020

Ohio, US-based iron ore and steel producer Cleveland-Cliffs Inc. (NYSE: CLF) has received from the Bureau of Competition of the Federal Trade Commission notice of early termination of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 for its proposed acquisition of substantially all of ArcelorMittal USA LLC and its subsidiaries, the company said.

This clearance represents the most significant milestone toward the completion of this transaction, and re-affirms the anticipated closing of the deal in December 2020. The completion of the transaction remains subject to other customary closing approvals and conditions, all of which the company expects to settle before the completion of the transaction.