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News Breaks
June 19, 2014
16:19 EDTCLFCliffs Natural urges shareholders to support all nine company nominees
Cliffs Natural Resources continues to believe that it is in the best interest of Cliffs' shareholders to support all nine of the company's nominees at the upcoming Annual Meeting of Shareholders to be held on July 29. Cliffs' shareholders of record at the close of business on June 2, will be entitled to vote at the Annual Meeting. Cliffs' nine director nominees, eight of whom are independent, have decades of leadership experience in mining, steel, basic materials, finance, engineering and natural resources businesses - the skills that the Board of Directors believes are required to understand and lead Cliffs. The Board continues to take an active approach in overseeing Cliffs' strategy and execution, providing guidance and, as appropriate, exacting accountability, in the current challenging iron ore pricing environment. As previously announced, in connection with the pending proxy contest between Cliffs and Casablanca Capital, the Cliffs Board has been considering whether Casablanca's nominees should be "approved" with respect to the Company's senior notes indenture for the limited purpose of not triggering the change of control provision in the senior notes indenture. The Cliffs Board took this limited, technical action after determining that this action was prudent to protect the interests of all of Cliffs' shareholders by eliminating the possibility that the outcome of the upcoming Board election could result in triggering the change of control provision. In no way should today's action be construed as Cliffs endorsing any of the Casablanca nominees in the proxy contest. The Cliffs Board continues to recommend shareholders vote by telephone, by Internet, or by signing and dating the WHITE proxy card to vote "FOR ALL" of the company's nine highly qualified and experienced director nominees with expertise in leading mining, steel, basic materials, engineering and natural resources businesses: Gary B. Halverson, Barry J. Eldridge, Mark E. Gaumond, Susan M. Green, Janice K. Henry, Stephen M. Johnson, James F. Kirsch, Richard K. Riederer and Timothy W. Sullivan. By voting the WHITE proxy card, the company intends for two of Casablanca's nominees to be elected to the company's Board.
News For CLF From The Last 14 Days
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September 10, 2014
08:08 EDTCLFCliffs Natural amends credit facilty to allow for $200M share repurchase program
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September 7, 2014
12:59 EDTCLFIron ore giants keep up production amid falling prices, WSJ says
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