Cleveland-Cliffs acquires AK Steel
At the end of 2019, AK Steel agreed to be acquired by Cleveland-Cliffs. The company entered into a merger agreement where Cleveland Cliffs will acquire AK Steel’s issued and outstanding shares of common stock. AK Steel’s flat-rolled carbon, stainless and electrical steel products will add to Cleveland-Cliff’s growing product portfolio and will help the company better serve its customers across North America.
M&AIn response to volatile demand in the wake of the first COVID-19 surge, the company undertook a comprehensive cost reduction program, aimed at shoring up labor and supply costs.
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