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Fly News Breaks for December 7, 2019
CLF, AKS
Dec 7, 2019 | 08:56 EDT
Cleveland-Cliffs (CLF) and AK Steel (AKS) say they can reduce costs by $120M a year as a combined company. Based on the valuation multiples of steel companies, the pair could be worth $600M more, writes Al Root of Barron's. That makes Cleveland-Cliffs stock worth almost $10 a share, all else being equal, or 20% higher than its close on Friday, Root points out. Reference Link
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