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Cleveland-Cliffs files acquisition of control exemption to STB

Cleveland-Cliffs Inc. filed (06-Nov-2020) a verified notice of exemption to the US Surface Transportation Board (STB) to acquire six Class III rail carriers from ArcelorMittal USA LLC. Cleveland-Cliffs is seeking to own and control Brandywine Valley Railroad Company, Steelton & Highspire Railroad Company (S&H), Lake Michigan & Indiana Railroad Company (LMIC), Upper Merion & Plymouth Railroad Company (UMPR), Cleveland Works Railway Inc. (CWR) and South Chicago & Indiana Harbor Railway Company (SCIH). The six carriers operate on short line or terminal railroads that primarily serve steel production facilities. According to the Surface Transportation Board, "the transaction may be consummated" from 22-Nov-2020. [more - original PR]

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