Cleveland-Cliffs, in bid to boost auto steel business, to buy ArcelorMittal USA for $1.4 billion

Cleveland-Cliffs, in bid to boost auto steel business, to buy ArcelorMittal USA for $1.4 billion

The deal comes as U.S. steel prices recover, driven by tightening supply after lockdowns hurt demand. The assets being acquired include six steelmaking facilities, three coal and coke-making operations and several other facilities.

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