Cleveland-Clives recently completed its acquisition of ArcelorMittal USA, becoming the largest flat material manufacturer in North America. And the deal is cleveland-clives's second major acquisition since acquiring AK steel in March. Combined company sales revenue is expected to be $17 billion, and the combined EBITDA is about $1.7 billion.
According to the agreement, ArcelorMittal has received $505 million in cash ,78 million shares of common and non-voting preferred shares of Cleveland-Clives, which can redeem about 58 million shares of Cleveland-Clives common stock or equivalent cash. Cleveland-Clives took on the debt of ArcelorMittal USA.
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