Activist Urges Cliffs Natural To Split Int'l Mining Projects

Law360, New York (January 28, 2014, 5:58 PM EST) -- Activist investment firm Casablanca Capital LLC revealed a 5.2 percent stake in Cliffs Natural Resources Inc. Tuesday in an open letter urging the mining company to spin off its floundering international projects to “dramatically” increase shareholder value, according to a regulatory filing.

Casablanca told Ohio-based Cliffs that it could leave behind its spot as one of the Standard & Poor 500’s biggest losers and regain its value by splitting the U.S.-based and foreign operations into two separate companies, allowing high-performing assets in the Great Lakes to...
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