Cleveland-Cliffs (CLF) has announced that the Canadian Competition Bureau has issued a no-action letter, indicating that the Commissioner of Competition will not oppose the company's proposed acquisition of Stelco Holdings. Cliffs is poised to finalize the transaction within the current quarter.
Lourenco Goncalves, CEO of Cliffs, stated, "This clearance from the Canadian Competition Bureau completes all necessary antitrust assessments for the acquisition. We are eager to finalize the transaction once the outstanding conditions for closing are met."
