News & Announcements

Weil Advises AK Steel Holding Corporation in its $3B Sale to Cleveland-Cliffs Inc.

Weil is advising 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 is expected to close in the first half of 2020, subject to approval by the shareholders of both companies, receipt of regulatory approvals and satisfaction of other customary closing conditions.

The Weil team advising AK Steel Holding Corporation is led by Mergers & Acquisitions partner Raymond Gietz and includes Mergers & Acquisitions partner Amanda Fenster (elected partner effective January 1, 2020) and Mergers & Acquisitions associates Michelle Sargent, Tyler Silvey, Graciany Miranda and Jason Klig (Not Yet Admitted in New York). The team also includes Banking & Finance partner Morgan Bale; Capital Markets partner Faiza Rahman; Tax partners Helyn Goldstein and Chayim Neubort; Executive Compensation & Benefits partner Amy Rubin; Real Estate partner Samuel Zylberberg; Antitrust partner John Scribner; Banking & Finance counsel Brian Drozda; Capital Markets associate Janeane Ferrari; Technology and IP Transactions associate Kane Wishart; Tax associate Blake Bitter (Not Yet Admitted in Washington D.C.); Executive Compensation & Benefits associates John Kleinjan and Tamara Roth; Real Estate associate Suji Jhaveri; Antitrust associates Jonathan Cheng and David Rybak (Not Yet Admitted in New York); Regulatory associate Tim Welch; and Employment Litigation associate Chris Dyess.