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Cleveland-Cliffs to buy ArcelorMittal's US assets

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Iron ore mining company Cleveland-Cliffs agreed to purchase the U.S. assets of ArcelorMittal SA for $1.4 billion.

The world's largest steelmaker, ArcelorMittal officials last year announced plans to offload $2 billion worth of its assets.

Luxembourg-based ArcelorMittal's U.S. operation has roughly 18,000 employees and 25 facilities, including mines.

Read more from CNBC.

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