Cases
AK Steel Holding Corporation
Merger
Overview
Overview
- Date:
- 12/3/2019
- Case Caption:
- Cornish v. AK Steel Holding Corporation, et al.
- Stock Symbol:
- AKS
- Company Name - Buyer:
- Cleveland-Cliffs Inc.
- Stock Symbol - Buyer:
- CLF
- Status:
- Filed
- Merger Announcement Date:
- 12/3/2019
- Filing Date:
- 2/21/2020
- Court:
- U.S. District Court: Eastern District of Michigan
On December 3, 2019, AK Steel announced that it had signed an agreement to be acquired by Cleveland-Cliffs for a total of approximately $1.1 billion. Per the merger agreement, AK Steel shareholders will receive 0.40 shares of Cleveland-Cliffs common stock for each share of AK Steel common stock owned. The deal is scheduled to close in the first half of 2020.
Bragar Eagel & Squire is concerned that AK Steel’s board of directors oversaw an unfair process and ultimately agreed to an inadequate deal price. Accordingly, the firm is investigating all relevant aspects of the deal and is committed to securing the best result possible for AK Steel stockholders.
Bragar Eagel & Squire is concerned that AK Steel’s board of directors oversaw an unfair process and ultimately agreed to an inadequate deal price. Accordingly, the firm is investigating all relevant aspects of the deal and is committed to securing the best result possible for AK Steel stockholders.
Case Updates
Case Files
-
Cornish v. AK Steel Holding Corporation, et al.