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DewDiligence

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DewDiligence

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Re: DewDiligence post# 3658

Tuesday, 08/28/2018 9:56:20 AM

Tuesday, August 28, 2018 9:56:20 AM

Post# of 8671
CLF completes APIO sale on better terms than previously announced:

https://finance.yahoo.com/news/cleveland-cliffs-completes-sale-asia-131300373.html

With the transaction, Cliffs’ previously disclosed costs of closing the Australian operations were reduced by approximately $85 million [i.e. $10-20M better than the $65-75M reduction cited in CLF’s Jun 2018 PR (#msg-141471402)].

CLF will record a one-time GAAP-EPS gain of $0.75 in 3Q18 related to the APIO closure.

“The efficient-market hypothesis may be
the foremost piece of B.S. ever promulgated
in any area of human knowledge!”

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