Cliffs Natural Resources to Buy Consolidated Thompson for $4.95 Billion (CLF)

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Mining giant Cliffs Natural Resources Inc ( CLF ) late Tuesday announced it has entered into an agreement to buy Canadian iron ore miner Consolidated Thompson for $4.95 billion Canadian dollars.

The fetching price of C$17.25 per share, represents a 31% premium to Consolidated Thompson's stock's 20-day moving average.

Once the acquisition is completed, Consolidated Thompson will become a wholly-owned subsidiary of Cliffs, and will be re-branded under the Cliffs name. The deal is expected to add to CLF's bottom line by the end of this year.

Cliffs Natural Resources shares fell 46 cents, or -0.5%, in premarket trading Wednesday.

The Bottom Line
We recently added shares of Cliffs Natural Resources ( CLF ) to our recommended list for "aggressive" dividend investors. The company has a .66% dividend yield, based on last night's closing stock price of $84.96.

Cliffs Natural Resources Inc ( CLF ) is a "Recommended" dividend stock, holding a Dividend.com DARS™ Rating of 3.5 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here .



The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.

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This article appears in: Investing , Stocks

Referenced Stocks: CLF

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