Cleveland-Cliffs to buy U.S. assets of ArcelorMittal for about $1.4 billion

FILE PHOTO: The logo of steel factory ArcelorMittal is pictured in Seraing near the Belgian city of Liege, March 10, 2016. REUTERS/Francois Lenoir

(Reuters) – Cleveland-Cliffs Inc, the largest U.S. producer of iron ore pellets, said on Monday it had agreed to buy U.S. assets of the world’s largest steelmaker ArcelorMittal SA for about $1.4 billion.

Reporting by Rama Venkat in Bengaluru; Editing by Shounak Dasgupta

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