Finance / United States
If you would like to subscribe to Corporate Financing Week and gain instant access to this article, please click here to subscribe.
If you would like to take a trial to Corporate Financing Week please click on the trial link below.
Cleveland-Cliffs US$10bn Deal Heralds Massive Increase In M&A
July 2008 | M&A News AlertSorry, you must be a subscriber to view this article in full. If you are a subscriber please login.
If you would like to subscribe to Corporate Financing Week and gain instant access to this article, please click here to subscribe.
If you would like to take a trial to Corporate Financing Week please click on the trial link below.
In the biggest merger yet seen in the US coal industry, Cleveland-Cliffs said on July 16 that it will acquire leading Appalachian producer Alpha Natural Resources for US$10bn in cash and stock. With coal prices already having doubled to US$119.50 a tonne to date this year, and with US prices cheap in comparison to the rest of the world, the deal may well herald a wave of both domestic and cross-border M&A among big-name US