AK Steel Holding Corporation (AKS)
AKS Price and Sentiment
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Cleveland-Cliffs (CLF) has two integrated blast furnace steel mills along with a new state-of-the-art HBI facility and two electric arc furnace plants.
In December 2019, Cleveland-Cliffs (NYSE: CLF) announced that it has entered into a $1.1 billion all-stock deal to buy AK Steel. Post the deal closure in the first half of 2020, CLF is likely to hold 68% of the vertically integrated steel company, with AK Steel holding the other 32%.
Despite President Donald Trump's promise to revive the domestic steel industry through tariffs, AK Steel has decided its time to sell.
Cleveland-Cliffs CLF, +5.26% said it's reached a deal to buy AK Steel AKS, +4.71% for $1.1 billion, or $3.36 a share.
AK Steel (AKS) has an impressive earnings surprise history and currently possesses the right combination of the two key ingredients for a likely beat in its next quarterly report.
Reduced shipments to the automotive market hurt AK Steel's (AKS) Q2 revenues.
The new agreement continues to provide flexible and competitive labor contract for AK Steel (AKS) and its employees at Butler Works.
The end of steel tariffs is bad news for both companies -- but debt worries could be even worse.
What's bad for one steelmaker could be bad for others.
Let's see if AK Steel (AKS) stock is a good choice for value-oriented investors right now from multiple angles.