Major US Steel Producer Cleveland Cliffs to Acquire Canadian Stelco Holdings for $2.5 Billion

Canadian firms McCarthy Tétrault, Blake Cassels & Graydon, and Stikeman Elliott, along with A&O Shearman and Davis Polk & Wardwell, are advising on the transaction where U.S.-based Cleveland Cliffs Inc. will acquire Canadian steelmaker Stelco Holdings Inc. The deal, announced on Monday, is valued at approximately C$3.4 billion (US$2.5 billion). Under the terms of the deal, Stelco will keep its headquarters in Canada and maintain Canadian representation on its management team. For more details, see the original article here.