Steel giant ArcelorMittal to sell US business in $1.4B deal
ArcelorMittal’s U.S. operations, which include Indiana Harbor, the largest integrated steelmaking facility in North America, will be sold to Cleveland-Cliffs for $1.4 billion in cash and stock.The transaction, announced early Monday, will make Cleveland-Cliffs the largest flat-rolled steel producer and largest iron ore pellet producer in North America.The deal involves almost 20 facilities in eight states, including five in northwest Indiana — the Indiana Harbor and Burns Harbor mills as well as three finishing plants, two of which are joint ventures with Nippon Steel. It also includes a compa...
Driver Christopher Bell's NASCAR team, Leavine Family Racing, forced to sell due to pandemic
CHARLOTTE, N.C. — Leavine Family Racing will have new ownership after the season, team owner Bob Leavine announced Tuesday morning. The NASCAR team, its assets and the charter for the No. 95 Toyota Camry driven by rookie Christopher Bell have been sold due to the financial impact of the pandemic.“This year has been challenging for not only our race team, but our industry, our country and the entire world,” a statement from Leavine said. “The pandemic has impacted the economy and unfortunately that’s just not something we are able to overcome in order to continue racing this season.”Rumors that...
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