Weil Advised AK Steel Holding Corporation in its $3B Sale to Cleveland-Cliffs Inc.
Weil advised AK Steel Corporation, a fully integrated producer of flat-rolled carbon, stainless and electrical steel and tubular products with an implied enterprise value of approximately $3 billion, in its merger with Cleveland-Cliffs, Inc., the largest independent iron ore mining company in the United States and a major supplier of iron ore pellets to the North American steel industry. The transaction closed on March 13, 2020.
The Weil team that advised AK Steel Holding Corporation was led by Mergers & Acquisitions partner Raymond Gietz and included Mergers & Acquisitions partner Amanda Fenster and Mergers & Acquisitions associates Michelle Sargent, Tyler Silvey and Jason Klig. The team also included Banking & Finance partner Morgan Bale; Tax partners Helyn Goldstein and Chayim Neubort; Executive Compensation & Benefits partner Amy Rubin; Antitrust partner John Scribner; Technology and IP Transactions/Privacy associate Kane Wishart; Tax associate Blake Bitter; Antitrust associate David Rybak; and Regulatory associate Tim Welch.
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