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News Breaks
February 14, 2014
08:08 EDTCLFCliffs Natural says 'disappointed' Casablanca intent on waging public campaign
Cliffs Natural Resources issued an open letter to all shareholders, stating in part: "As we do with any significant investor, Cliffs' Board of Directors and management team have attempted to maintain a constructive dialogue with Casablanca. In fact, Cliffs' Chairman along with senior management has met with Casablanca in person twice in addition to a number of telephone calls and emails. Also, one of the Company's financial advisors, along with members of senior management, participated in a discussion with Casablanca regarding its proposal and analysis of Cliffs. We are disappointed that Casablanca seems intent on waging a public campaign rather than continuing its private engagement with our Chairman and management to address our doubts and concerns relating to Casablanca's proposal...It is important to point out that Casablanca's letter, dated January 27, 2014, includes a number of incorrect assumptions and omissions that need to be corrected...When establishing the valuation of our assets, Casablanca has used companies with non-comparable business models to attempt to establish a market value for "Cliffs International." In fact, half of Casablanca's comparable set includes companies with different minerals, growth outlooks and production profiles...We believe that Cliffs' dividend should be increased only to the extent that it is sustainable and will not put the Company's operations at risk. Casablanca fails to demonstrate that either is the case in their proposal...The idea of an MLP structure of the U.S. assets is not new. In fact, the Company has been studying the feasibility of a potential MLP structure with its advisors for a number of months. The specific characteristics of the Company's U.S. Iron Ore business make implementing such a structure complex, with significant tax implications...We are confident that our plan will improve long-term financial and operating performance to create value for all shareholders. To the extent that Casablanca offers additional ideas that would enhance shareholder value, we stand ready and willing to continue to engage with them on a private basis."
News For CLF From The Last 14 Days
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September 30, 2014
11:44 EDTCLFOptions with increasing implied volatility
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September 29, 2014
16:00 EDTCLFOptions Update; September 29, 2014
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11:40 EDTCLFOptions with increasing implied volatility
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06:09 EDTCLFCliffs Natural implied volatility of 73 at upper end of index mean range
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September 26, 2014
16:01 EDTCLFOptions Update; September 26, 2014
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11:28 EDTCLFCliffs Natural Australian mines draw interest from bidders, Bloomberg reports
Cliffs Natural Resources has received interest for its Australian iron-ore mines from bidders including Australian-based Mineral Resources and Mount Gibson Iron, Bloomberg says, citing people with knowledge of the matter. The mines may be valued at $878M, and no formal offers have been made yet, the people added. Reference Link
11:16 EDTCLFOptions with increasing implied volatility
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09:37 EDTCLFActive equity options trading on open
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06:11 EDTCLFCliffs Natural implied volatility of 72 at upper end of index mean range
05:58 EDTCLFStocks with implied volatility movement; SDS CLF
Stocks with implied volatility movement; UltraShort S&P500 ProShares (SDS) 29, Cliffs Natural (CLF) 71 according to iVolatility.
September 25, 2014
10:45 EDTCLFOptions with increasing implied volatility
Options with increasing implied volatility: VALE CLF NUS HLF SVXY VXX AGQ SQQQ
September 22, 2014
16:00 EDTCLFOptions Update; September 22, 2014
iPath S&P 500 VIX Short-Term Futures up 91c to 28.14. Option volume leaders: AAPL TSLA NFLX C TWTR AMZN BP PBR CLF WLT according to Track Data.
14:23 EDTCLFCliffs Natural falls to fresh 52-week lows, levels to watch
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