Cliffs pays $4.9B for iron ore miner

The Montreal Gazette.com reports that Cliffs Natural Resources (NYSE:CLF) has bought Consolidated Thompson Mines (TSX:CLM) for $4.9B.

The story is quoted as saying:

Cliffs’s CEO Joseph Carraba said the $17.25-a-share offer represents a 30-per-cent premium over Monday’s closing price of Consolidated Thompson’s shares in Toronto. The shares had already doubled in value over the past year

To access the full story, click here.