One of Butler County’s largest employers, AK Steel has been sold to iron ore mining company Cleveland-Cliffs both companies announced this morning.
The all-stock deal is valued at $1.1 billion.
Cleveland-Cliffs said in a statement that they expect to realize immediate growth and a long-desired objective of a more diverse customer base.
The deal is expected to close in the first half of 2020.
We’ll update this story as we learn more.
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