Cleveland Cliffs acquired Stelco in 2024.
Posted by Your World Tonight, Checked
- Sources
- 3 support
- Said
- 1 time·
- Confidence
- 90%
Your World TonightOct 28, 2026
Sources show Cleveland-Cliffs agreed to buy Stelco in July 2024 (Reuters) and announced completion of the acquisition on November 1, 2024 (company release); the AP report also confirms the 2024 takeover.
A played clip makes this claim. Listeners heard it, so it counts against the post.
What was said
… The company blames US. Tariffs, but the government is now pointing to an interview Lorenzo Gonzales, the CEO of Cleveland Cliffs, gave this week to the CBC's Power and Politics, in which he suggested the US. Firm had its own reasons for acquiring Stelco back in 2024. So I'm what scale could be, because I could not afford anymore having flood in the market here in the United States to the detriment of my own company. …
Your World Tonight · · from the transcriptPost →What we found
Supports. Reuters reported on July 15, 2024 that Cleveland-Cliffs would buy Stelco Holdings for C$3.85 billion, with the deal announced that day.[1]
Supports. Cleveland-Cliffs' own November 1, 2024 press release states it successfully completed its acquisition of Stelco Holdings Inc.[3]
Supports. AP reporting from September 2026 describes Cleveland-Cliffs' takeover of Stelco in 2024, and notes the Canadian government approved it in October 2024 with employment conditions.[2]
Context. The passage's 'own reasons' framing is the claimant's paraphrase of CEO comments and is not itself evidence; the sources do not contest the acquisition timing.
Sources
3 sources: 2 fact-checkers, 1 not rated
- 1Cleveland-Cliffs to buy Canadian steelmaker Stelco for $2.8 billionreuters.com · fact-checker · cited for: supports
- 2Carney accuses US steelmaker of betraying Canadian workers after layoffs tied to Trump tariffsapnews.com · fact-checker · cited for: supports
- 3Cleveland-Cliffs Completes Acquisition of Stelcoclevelandcliffs.com · not rated · cited for: supports
Where this claim was made
Said in 1 published post
Related claims
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