August 24, 2008

Cleveland-Cliffs Set Date for Shareholder Vote

Iron ore and coal mine operator Cleveland-Cliffs Inc. of Charleston, W.Va., has set the date for shareholders to vote on its proposed purchase of coal producer Alpha Natural Resources.

Cleveland-Cliffs agreed to acquire Alpha in a deal valued at $10 billion July 16. Cleveland-Cliffs has scheduled voting for Oct. 3. The combined company would be named Cliffs Natural Resources, and own nine iron ore facilities and more than 60 coal mines.

Most of the coal operations would come from Alpha, which has mines in West Virginia, Virginia, Kentucky and Pennsylvania.

Originally published by Staff and wire reports.

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