Cleveland-Cliffs Inc. (CLF) announced Monday that it has entered into a definitive agreement with ArcelorMittal S.A. (MT) to acquire substantially all of ArcelorMittal USA LLC for approximately $1.4 billion.
The acquisition is anticipated to be earnings per share accretive.
The enterprise value of the deal is around $3.3 billion, which takes into consideration the assumption by Cleveland-Cliffs of pension/OPEB liabilities and working capital.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.