Cleveland-Cliffs Inc. has announced that it received a “no-action letter” from the Canadian Competition Bureau, indicating that the Commissioner of Competition does not plan to challenge its pending acquisition of Stelco Holdings Inc. The company is on track to finalize the transaction this quarter.
Stelco has an annual production capacity of 2.6 mln tons of flat-rolled steel, primarily consisting of hot-rolled products.
Cleveland-Cliffs is a leading North American steel producer, specializing in value-added sheet products, particularly for the automotive industry. Headquartered in Cleveland, Ohio, Cleveland-Cliffs operates in both the United States and Canada.
