Exclusive: ArcelorMittal in talks to merge U.S. assets with Cleveland-Cliffs

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ArcelorMittal SA , the world's largest steelmaker, is exploring a deal to merge its U.S. operations with Cleveland-Cliffs Inc , the largest U.S. producer of iron ore pellets, people familiar with the matter said on Sunday.

, the largest U.S. producer of iron ore pellets, people familiar with the matter said on Sunday.

The latest deal could result in the merger of U.S. assets of Luxembourg-based ArcelorMittal that are worth between $2 billion and $3 billion with Cleveland-Cliffs, one of the sources said. It would be transformative for Cleveland-Cliffs, which has a market value of $2.3 billion and had total long-term debt as of the end of June of $4.5 billion.

The sources requested anonymity because the matter is confidential. ArcelorMittal and Cleveland-Cliffs did not immediately respond to requests for comment.

 

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It's a great place for a commercial driver to burn 3 hours of time off their clock. And the staff are all so pleasant. Not.

I saw how people work at Arcelor Mittral in Ukraine 🇺🇦 (Kryvyy Rig city 🏭) It's terrible... The company simply sucks up all the resources

They're in Harrisburg Pa. Also they bought out one of Bethlehem steel's plant there when it closed down .

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