Cliffs Natural Resources Inc. Closes Common Share Offering

bwire


CLEVELAND (Business Wire) -- Cliffs Natural Resources Inc. (NYSE: CLF) (Paris: CLF) today
announced that it has closed on its previously announced common share
offering. The total number of shares sold was 17,250,000, comprised of
the 15 million share offering and the exercise of the underwriters'
option to purchase an additional 2.25 million common shares. Net
proceeds at a price of $21.00 per share are approximately $347 million,
which will be used for general corporate purposes, which may include,
among other things, funding certain capital expenditures, repayment of
indebtedness or strategic transactions.