Steel Mills
January 15, 2020
Cleveland-Cliffs Continues Process for AK Steel Acquisition
Written by Sandy Williams
Cleveland-Cliffs has begun exchanging senior notes issued by AK Steel for notes issued by Cliffs in preparation for the acquisition of the Ohio-based steel company.
“For each $1,000 principal amount of Existing AK Steel Notes validly tendered on Feb. 12, 2020 (the ‘Expiration Date’) and not validly withdrawn, Eligible Holders of Existing AK Steel Notes will be eligible to receive the applicable exchange consideration,” stated the Cliffs announcement.
