Cleveland-Cliffs and AK Steel Holding Corporation are pleased to announce that they have entered into a definitive merger agreement pursuant to which Cliffs will acquire all of the issued and outstanding shares of AK Steel common stock. Lourenco Goncalves, Chairman of the Board, President and CEO of Cliffs, will lead the expanded organization.

Cleveland-Cliffs and AK Steel will conduct a live conference call and webcast with analysts and investors on December 3, 2019 at 8:30 a.m. ET.