Key Data Points
| Current Price: | $1.55 |
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| Prev Close: | $1.55 |
| Open: | $0.00 |
| 52wk Range: | $1.55 - $3.34 |
| Volume: | 18,472,614 |
Iron ore mining company Cleveland-Cliffs has agreed to take over West Chester-based AK Steel in a $3 billion deal announced Tuesday. The combined company will be run by Cleveland-Cliffs CEO Lourenco Goncalves. While the deal keeps control in Ohio, it will cost Cincinnati one of its eight Fortune 500 companies.
AK Steel (NYSE:AKS) is merging with Cleveland-Cliffs (NYSE:CLF) in a deal worth $1.10 billion. The remaining 68% will belong to investors in Cleaveland-Cliffs. In total, the deal has a set value of $1.10 billion. The offer in the AK Steel buyout values shares of AKS stock at $3.36 per share.
ASHLAND, Ky. (WSAZ/AP) -- A merger agreement between Cleveland-Cliffs Inc. and AK Steel means Cliffs has acquired all of the issued and outstanding shares of AK Steel common stock. The company announced Tuesday that they bought out AK for a little more than $1 billion.
A proud chapter of manufacturing history in northeastern Kentucky is coming to an end. AK Steel has sent out final notices to employees of the closure of its Ashland Works plant on Tuesday. AK Steel announced on Jan. 28, 2019 that the plant would be permanently shuttered by the end of 2019.
Most iron and steel in the United States is now made from iron and steel scrap, rather than iron ore. Employment as of 2014 was 149,000 people employed in iron and steel mills, and 69,000 in foundries. The value of iron and steel produced in 2014 was $113 billion.
Nucor ranked as America's largest steel producer. No company produces more steel in the United States than Nucor Corporation, according to rankings published in the May 2008 issue of American Metal Market.
Since 2008, the company had restored more than 10 acres at its Coshocton Works into native Ohio prairie land, with plans to expand to more than 20 acres. In 2014, the Political Economy Research Institute ranked AK Steel 53rd among companies with airborne emissions.
1899, Middletown, Ohio, United States
Armco Crash Barriers. Armco crash barriers manufacture and supply simple, untested, untensioned corrugated off-road crash barrier beam systems. Widely used for low impact and low speed applications such as car parks, residential areas and industrial sites. Protecting people, machinery and buildings inside and outside.
Middletown, Ohio, residents share mixed feelings about the effects of President Trump's tariffs on steel and aluminum, and what it might mean for AK Steel. Iron ore mining company Cleveland-Cliffs has agreed to take over West Chester-based AK Steel in a $3 billion deal announced Tuesday.
AK Steel operates
steel plants, coke plants and tube manufacturing plants, where it makes products for markets including the auto industry and electrical power generation.
Company Info.
| CEO | Roger K. Newport |
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| HQ Location | West Chester, Ohio |
| Website | |
| Years on Fortune 500 List | 19 |
| Employees | 9,500 |
Salt water is a solution. Steel is also a solution! Steel (a mixture of carbon and iron) and brass (a mixture of zinc and copper) are called alloys or solid solutions. Solutions are always transparent!
Where is AK Steel headquarters?
West Chester Township, Ohio, United States
