The steel producer ArcelorMittal is selling its American activities to its American competitor Cleveland-Cliffs. The sale has a volume of around 1.4 billion dollars (1.2 billion euros). This is what makes Cleveland Cliffs famous.
A definitive agreement has been reached to acquire ArcelorMittal USA, according to Cleveland-Cliffs.
In 2018 and 2019, ArcelorMittal USA achieved average annual sales of 10.4 billion US dollars.