This is from CLF Yahoo board, something Big is happening out there, take over maybe in progress:

Remember what happened in 08? Cliffs desperately tried to buy Alpha Natural Resources but the deal was met with heavy resistance by Cliffs' largest shareholder, a hedge fund manager. They even changed the name from Cleveland-Cliffs to Cliffs Natural Resources in anticipation of the transaction. I believe Cliffs won shareholder approval, but it was called off when the economy tanked soon thereafter. They may be looking to acquire someone and they don't want the MM's harassing them again .

Lot of rumours about possible take over SPQ from CLF, now I am even more convinced that this will happen rather sooner than later.