(RTTNews) - Cleveland-Cliffs (CLF) has received a no-action letter from the Canadian Competition Bureau confirming that the Commissioner of Competition does not intend to challenge the company's pending acquisition of Stelco Holdings. Cliffs remains on track to close the transaction in the current quarter.
Lourenco Goncalves, Cliffs' CEO, said, "This clearance from the Canadian Competition Bureau officially concludes all required antitrust reviews related to the acquisition. We look forward to closing the transaction once the remaining conditions to closing are satisfied."
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