Cleveland-Cliffs Inc. and Stelco Holdings Inc. have agreed to merge in a cash-and-stock combination. Each share of Stelco Holdings will be exchanged for 0.454 new Cleveland-Cliffs share and $60.00 cash. The transaction has received shareholder and regulatory approvals, and is expected to close on Nov. 1, 2024, subject to customary closing conditions. Stelco Holdings shares are expected to delist shortly after closing of the transaction. As a result, Stelco Holdings shares will be removed from the S&P/TSX Composite Index prior to the open of trading on Nov. 5, 2024.