Welcome to our dedicated page for Cleveland-Cliffs news (Ticker: CLF), a resource for investors and traders seeking the latest updates and insights on Cleveland-Cliffs stock.
Cleveland-Cliffs Inc. (NYSE: CLF) is a North America-based steel producer with a focus on value-added sheet products for the automotive industry and a vertically integrated model that spans iron ore mining, pellet and direct reduced iron production, ferrous scrap processing, primary steelmaking, and downstream finishing, stamping, tooling, and tubing. The CLF news feed on Stock Titan aggregates the company’s latest announcements, earnings releases, financing transactions, and strategic updates.
Investors following CLF news can track quarterly and full-year earnings results, including steel shipment volumes, revenue trends, and segment performance as reported in the company’s public releases and Form 8-K filings. Cleveland-Cliffs regularly announces the timing of its earnings calls with securities analysts and institutional investors, and provides access to live webcasts and archived replays, which are highlighted in its news flow.
News for Cleveland-Cliffs also covers capital markets activity such as offerings of senior guaranteed notes due 2034 and underwritten public offerings of common shares, along with stated uses of proceeds like repayment of borrowings under its asset-based credit facility. Corporate governance developments, including board appointments and committee assignments, appear in both press releases and related 8-K filings.
Sector-specific updates include information on automotive-grade steel supply, production trials with automotive OEMs, and strategic partnerships such as the Memorandum of Understanding with POSCO, which is described as a transformative agreement aligned with U.S.–Korea trade policy. By monitoring this CLF news page, users can review a consolidated stream of company communications that reflect Cleveland-Cliffs’ operating performance, financing decisions, and strategic initiatives in the steel and mining value chain.
Cleveland-Cliffs (NYSE: CLF) has responded to lawsuits filed by U.S. Steel and Nippon Steel following the U.S. Government's decision to block Nippon Steel's acquisition of U.S. Steel. CEO Lourenco Goncalves characterized these lawsuits against the U.S. Government, USW, and Cleveland-Cliffs as a desperate attempt to deflect blame for their failed deal.
The deal faced significant bipartisan opposition, including from former President Trump and Senators Vance, Rubio, and Hawley, who urged CFIUS to block the sale. The President's final decision followed a year-long national security review, emphasizing the importance of maintaining American control over critical steelmaking infrastructure. The statement highlighted Japan's history of steel overcapacity and harmful dumping practices in the United States.
Notably, U.S. Steel CEO David Burritt sold personal stock at $50.01 on the deal's announcement day, December 18, 2023. Cleveland-Cliffs maintains the lawsuit is baseless and expressed readiness to defend their position in court.
Cleveland-Cliffs (NYSE: CLF) has appointed Jane M. Cronin to its Board of Directors, effective immediately. Cronin, currently Senior Vice President – Finance at The Sherwin-Williams Company, brings extensive experience in finance and accounting from her 35-year tenure at Sherwin-Williams, where she held various leadership positions including Senior VP of Enterprise Finance and Corporate Controller.
Cronin also serves on the board of Transdigm Group Inc., participating in their Audit and Nominating and Corporate Governance Committees. She will join CLF's Audit Committee and fills the vacancy left by the passing of former Board member Janet Miller. With her appointment, Cleveland-Cliffs' Board now consists of ten members, with nine being independent directors.
Cleveland-Cliffs (NYSE: CLF) reported Q3 2024 results with revenues of $4.6 billion and steel shipments of 3.8 million net tons. The company recorded a GAAP net loss of $230 million and adjusted net loss of $156 million, with adjusted EBITDA of $124 million. The quarter was impacted by weaker demand and pricing, leading to tighter margins and the temporary idling of Cleveland #6 blast furnace. The company recently acquired Stelco, which reported Q3 adjusted EBITDA of US$64 million. For 2025, CLF expects lower capital budget and anticipates $70 million in coal cost savings compared to 2024.
Cleveland-Cliffs (NYSE: CLF) has completed its acquisition of Stelco Holdings, strengthening its position as North America's largest flat-rolled steel producer. The acquisition expands Cliffs' geographical presence in Canada and diversifies its end-markets. Stelco will operate as a wholly-owned subsidiary of Cliffs while maintaining its name and Canadian legacy. CEO Lourenco Goncalves emphasized the acquisition's role in advancing integrated steelmaking and supporting union jobs in North America, highlighting benefits including customer base diversification and cost structure improvements.
Cleveland-Cliffs (NYSE: CLF) has secured the final regulatory approvals required for its acquisition of Stelco Holdings. The company received clearances under the Investment Canada Act and Strategic Innovation Fund, paving the way for the transaction's completion. The closing date has been set for November 1, 2024.
Cleveland-Cliffs Inc. (NYSE: CLF) has announced its schedule for releasing third-quarter 2024 earnings results. The company will disclose the results after the U.S. market closes on Monday, November 4, 2024. Following this, Cleveland-Cliffs will host a live conference call on Tuesday, November 5, 2024, at 8:30 am ET to discuss the results with securities analysts and institutional investors. Interested parties can access the call through the company's website at www.clevelandcliffs.com. The call will also be archived and available for replay on the same website.
Cleveland-Cliffs Inc. (NYSE: CLF) has received a "no-action letter" from the Canadian Competition Bureau, indicating that the Commissioner of Competition does not intend to challenge Cliffs' pending acquisition of Stelco Holdings Inc. This clearance marks the conclusion of all required antitrust reviews for the acquisition. Earlier this week, Cliffs announced the expiration of the U.S. Department of Justice antitrust review period and successfully raised the remaining capital to fund the transaction. Lourenco Goncalves, Cliffs' Chairman, President and CEO, expressed satisfaction with these three important milestones and stated that the company remains on track to close the transaction this quarter, pending the satisfaction of remaining closing conditions.
Cleveland-Cliffs Inc. (NYSE: CLF) has announced the pricing of $1.8 billion in Senior Guaranteed Notes, split equally between 2029 and 2033 maturities. The 2029 Notes will bear interest at 6.875%, while the 2033 Notes will bear interest at 7.375%, both issued at par. The offering, expected to close on October 22, 2024, will fund part of the cash consideration for the Stelco Holdings Inc. acquisition, anticipated to complete in Q4 2024.
The Notes will be guaranteed by Cliffs' material domestic subsidiaries and are subject to a special mandatory redemption if the Stelco acquisition is not completed by April 14, 2025 (extendable to July 14, 2025). The offering is exempt from SEC registration and is only available to qualified institutional buyers and non-U.S. persons under specific exemptions.
Cleveland-Cliffs Inc. (NYSE: CLF) has announced its intention to offer $1.6 billion in Senior Guaranteed Notes, split equally between notes due in 2029 and 2033. The offering is exempt from SEC registration requirements and the notes will be guaranteed by Cliffs' major domestic subsidiaries. The proceeds are intended to partially finance the cash consideration for the previously announced Stelco Holdings Inc. acquisition, expected to close in Q4 2024.
The offering is not contingent on the Stelco acquisition's completion. However, if the acquisition is not consummated by April 14, 2025 (extendable to July 14, 2025) or if Cliffs terminates the arrangement, the notes will be subject to a special mandatory redemption at 100% of the initial issue price plus accrued interest. The notes are being offered only to qualified institutional buyers and non-U.S. persons under specific exemptions.
Cleveland-Cliffs Inc. (NYSE: CLF) has announced a significant milestone in its pending acquisition of Stelco Holdings Inc. The waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 (HSR Act) has expired, clearing a major regulatory hurdle for the transaction. This development marks a important step towards finalizing the acquisition, which is anticipated to close in the fourth quarter of 2024, subject to other customary closing conditions and approvals.
Lourenco Goncalves, Cliffs' Chairman, President and CEO, expressed excitement about this progress, highlighting the transformative nature of the Stelco acquisition. He emphasized that this move will enhance Cleveland-Cliffs' resilience and geographic diversification in the highly competitive global market.