{"schema_version":"secwatch.filing_event.v1","accession":"0000764065-24-000160","form_type":"8-K","ticker":"CLF","cik":"0000764065","company_name":"CLEVELAND-CLIFFS INC.","filed_at":"2024-07-15T23:59:59+00:00","discovered_at":"2026-05-14T18:03:15.806942+00:00","generated_at":"2026-05-31T20:53:09.470297+00:00","sec_items":["5.02","8.01","9.01"],"event_type":"m_and_a","sentiment":"positive","materiality_score":0.85,"calibrated_materiality_score":0.85,"confidence":"high","headline":"Cliffs to acquire Stelco for ~$2.5B enterprise value; CAD $70/share total consideration","bullets":["Stelco shareholders receive CAD $60 cash + 0.454 Cliffs shares per share, total CAD $70 (approx. $51/share as of July 12).","Enterprise value ~$2.5B USD; multiple 4.8x 3/31/24 LTM Adj. EBITDA; $120M expected annual cost savings; immediately accretive to EPS.","Deal expected to close Q4 2024; boards approved; voting support agreements cover ~45% of Stelco shares.","Cliffs commits to CAD $60M capex over 3 years, increase charitable support by CAD $2M/year, maintain Stelco HQ and name.","Financing: Wells Fargo and J.P. Morgan provided full underwritten commitments; BMO and RBC issued fairness opinions."],"urls":{"canonical":"https://secwatch.observer/filing/0000764065-24-000160","json":"https://secwatch.observer/filing/0000764065-24-000160.json","markdown":"https://secwatch.observer/filing/0000764065-24-000160.md","text":"https://secwatch.observer/filing/0000764065-24-000160.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/764065/000076406524000160/0000764065-24-000160-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/764065/000076406524000160/clf-20240714.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-05-31T20:53:09.470297+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}