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Article: Cliffs Natural Resources Sells 17.25 Million Common Shares.
- Article from:
- Investrend
- Article date:
- May 20, 2009
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May 20, 2009 (FinancialWire via COMTEX) -- (Comment on this article at http://www.financialwire.net/2009/05/20/cliffs-natural-resources-sells-1725-million-common-shares/)
May 20, 2009 (FinancialWire) -- Cliffs Natural Resources Inc. (NYSE: CLF) has closed on a common share offering, selling a total of 17.25 million shares. J.P. Morgan Securities (NYSE: JPM) and Merrill Lynch & Co. (NYSE: MER) acted as joint book-running managers.
The offering was 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 per share are around $347 ...