Cleveland-cliffs says co to acquire all of operations of arcelormittal usa & its subsidiaries for about $1.4 bln

To acquire arcelormittal usa.transaction is anticipated to be eps accretive.cleveland-co will acquire substantially all of operations of arcelormittal usa & its subsidiaries for about $1.4 billion.cleveland-cliffs - expects acquisition to reduce company's leverage from 4.3x to 3.6x on a pro-forma 2019 adjusted ebitda basis.arcelormittal usa will be acquired by cleveland-cliffs on a cash-free and debt-free basis.enterprise value of transaction is approximately $3.3 billion.
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