Hedge fund seizes control of Australian iron ore exporter Cliffs
The fifth biggest iron ore business in Australia is in limbo after an apparent boardroom coup saw a hedge fund take control of American company Cliffs Natural Resources on Wednesday morning.
The fifth biggest iron ore business in Australia is in limbo after an apparent boardroom coup saw a hedge fund take control of American company Cliffs Natural Resources on Wednesday morning.
Cliffs has been struggling to remain profitable in recent times as prices for its two main products, iron ore and coal, have slumped, and the austere times have prompted some shareholders to campaign for a change of control and a break-up of the assets.
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