Cleveland-Cliffs Announces the Acquisition of Stelco
FREE Breaking News Alerts from StreetInsider.com!
StreetInsider.com Top Tickers, 8/16/2026
- S&P 500 ends lower as investors weigh data, Middle East tensions
- BofA's Hartnett explains why Wall Street is trading with 'no fear'
- Oil rises after US threatens indefinite blockade of Iran; set for weekly gains
- Are KOSPI and SOX in a bubble? Citi answers
- Could Intel return to the red-hot memory market after $20B raise and recent hire?
- S&P 500 ends lower as investors weigh data, Middle East tensions
- BOJ eyeing September rate hike, faster pace of tightening, sources say
- SanDisk upgraded at JPMorgan after investor day; shares climb
- BofA's Hartnett explains why Wall Street is trading with 'no fear'
- Micron: New Street upgrades to buy, says memory is no longer a cyclical story
Wolfe Research Reiterates Underperform Rating on Cleveland-Cliffs (CLF) Following Bid for Stelco
July 15, 2024 12:20 PM EDTWolfe Research analyst Timna Tanners reiterated an Underperform rating and $12.00 price target on Cleveland-Cliffs (NYSE: CLF)
The analyst comments "STLC deal makes operating sense... Mon's announced US$2.5B acquisition of Stelco (STLC, not covered) makes strategic sense operationally, in our view, but adds operating leverage into what we consider a challenging sheet mkt outlook. Under the pending deal, CLF would pay C$70/shr for STLC, an 87% premium to its July 12 closing price, split between C$60/shr cash and C$10/shr equity at an 0.454... More
