29
May
22:17
Cleveland-Cliffs may bid for NLMK's US mills: report
Cleveland-Cliffs is in talks with Novolipetsk Steel (NLMK) to acquire the Russian company's Indiana and Pennsylvania mills, according to a report by Bloomberg News.
The assets could be valued at more than $500 million, Kallanish understands.
Cliffs is interested and has gone so far as to sign a non-disclosure agreement with NLMK, Bloomberg reported, citing people familiar with the discussions.
Cleveland-Cliffs told Kallanish on Wednesday that &ld…
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