Casablanca Capital and CLF debate is heating up see the latest, but mainly we bring this to you because of the interesting presentation by Casablanca which can be found at the bottom of this post.
Cliffs Natural Resources Inc. Issues Statement
Sets the Record Straight on Casablanca Capital Allegations
CLEVELAND – March 7, 2014 – Cliffs Natural Resources Inc. (NYSE: CLF) (Paris: CLF) today issued the following statement:
On March 3, 2014, James Kirsch, Cliffs’ Chairman, had a telephonic conversation with Donald Drapkin, Chairman of Casablanca Capital and Douglas Taylor, CEO of Casablanca Capital. During this conversation, Mr. Drapkin made the suggestion that Cliffs postpone the record date for Cliffs’ annual meeting of shareholders, originally scheduled to be held on May 13, 2014. In accordance with this conversation, Cliffs’ Board agreed to accommodate this request in order to continue to pursue a potential settlement. Cliffs’ Board and management team stand by its decision to postpone the record date and is ready to engage with Casablanca.
About Cliffs Natural Resources Inc.
Cliffs Natural Resources Inc. is an international mining and natural resources company. A member of the S&P 500 Index, the Company is a major global iron ore producer and a significant producer of high-and low-volatile metallurgical coal. Cliffs’ strategy is to continually achieve greater scale and diversification in the mining industry through a focus on serving the world’s largest and fastest growing steel markets. Driven by the core values of social, environmental and capital stewardship, Cliffs associates across the globe endeavor to provide all stakeholders operating and financial transparency.
The Company is organized through a global commercial group responsible for sales and delivery of Cliffs’ products and a global operations group responsible for the production of the minerals the Company markets. Cliffs operates iron ore and coal mines in North America and an iron ore mining complex in Western Australia.
News releases and other information on the Company are available on the Internet at: http://www.cliffsnaturalresources.com