AK Steel’s stock jumps after $1.1 billion buyout deal with Cleveland-Cliffs

Tomi Kilgore
AK Steel’s stock jumps after $1.1 billion buyout deal with Cleveland-Cliffs

Shares of AK Steel Holding Corp. rallied Tuesday to a nine-month high, after the steel maker agreed to be bought out by iron ore mining company Cleveland-Cliffs Inc. in an all-stock deal valued at $1.1 billion.