Cliffs Natural Resources is Cheapest Takeover Target in North America

Bloomberg reported Cliffs Natural Resources (NYSE:CLF) may be the next takeover target in the iron industry since it is currently the cheapest miner.

As quoted in the market news:

The biggest North American iron-ore producer yesterday sold for 6.4 times its cash from operations, after deducting capital expenses, according to data compiled by Bloomberg. That was less than every other metals or mining company in the U.S. or Canada exceeding $5 billion in market value, and a 70 percent discount to the median. Cleveland-based Cliffs, which analysts say will generate record sales in 2012, was also the least expensive relative to its estimated net income this year and next.

Click here to read the full Bloomberg report.