ArcelorMittal sells 40 million common shares in Cleveland-Cliffs for $651.6 million

LUXEMBOURG: ArcelorMittal North America Holdings LLC, a wholly-owned subsidiary of ArcelorMittal S.A., announced an agreement to sell 40 million Cleveland-Cliffs common shares through a fully underwritten public market offering. The transaction is a part of a combined primary and secondary public offering of Cleveland-Cliffs’ shares. This divestment crystalizes additional proceeds from the transaction with Cleveland-Cliffs…