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Cliffs Natural Resources acquires Consolidated Thompson for $4.9 billion

May 2011

Client(s) Cliffs Natural Resources Inc.

Jones Day advised Cliffs Natural Resources Inc. in its CAD$4.9 billion (US$4.948 billion) acquisition and related financing of Consolidated Thompson Iron Mines Limited. The financing consisted of a $2.45 billion unsecured, investment-grade bridge facility and a $1.25 billion unsecured, investment-grade term loan.

In addition to M&A representation, Jones Day provided banking, capital markets, and antitrust advice regarding this transaction.

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