Cliffs Natural Resources Statement on Shareholder Engagement
- Cliffs welcomes open communications with all of its shareholders and values their input toward the collective goal shared by Cliffs' Board and management, which is to enhance long-term shareholder value. Cliffs has held productive preliminary conversations with Casablanca Capital and looks forward to continuing the dialogue to better understand their assumptions, projections and overall views.
- As part of the Company's goal to enhance shareholder value, over the last year, Cliffs has made significant changes to strengthen its Board of Directors and management team, including the addition of four new board members and a new chairman. Since these changes were made, the Company has taken steps to improve its financial and operating performance across all of its businesses. Looking ahead, Cliffs expects to continue making progress on reducing costs, strengthening its balance sheet with cash flows from operations, and taking a disciplined approach to capital spending. Cliffs will continue to evaluate the strategic fit and value creation potential of all the Company's assets as part of that process.
- As Cliffs focuses on executing its strategy to improve financial and operating performance, the Company is open to constructive dialogue with all shareholders. As a result, Cliffs will continue to review and consider ideas that may create additional value.
- J.P. Morgan is acting as financial advisor to the Company and Wachtell, Lipton, Rosen & Katz is acting as legal counsel.
- As part of the Company's goal to enhance shareholder value, over the last year, Cliffs has made significant changes to strengthen its Board of Directors and management team, including the addition of four new board members and a new chairman. Since these changes were made, the Company has taken steps to improve its financial and operating performance across all of its businesses. Looking ahead, Cliffs expects to continue making progress on reducing costs, strengthening its balance sheet with cash flows from operations, and taking a disciplined approach to capital spending. Cliffs will continue to evaluate the strategic fit and value creation potential of all the Company's assets as part of that process.
- As Cliffs focuses on executing its strategy to improve financial and operating performance, the Company is open to constructive dialogue with all shareholders. As a result, Cliffs will continue to review and consider ideas that may create additional value.
- J.P. Morgan is acting as financial advisor to the Company and Wachtell, Lipton, Rosen & Katz is acting as legal counsel.