Casablanca Capital backs Goncalves to be Cliffs chief

Feb 12, 2014 | 06:45 PM | Stacy Irish

Tags  Cliffs Natural Resources, Lourenco Goncalves, Casablanca Capital, Metals USA Holdings, Siderúrgica Nacional, Stacy Irish

NEW YORK — Activist hedge fund Casablanca Capital LP is backing Lourenco Goncalves, former chief executive officer of Metals USA Holdings Corp., to fill the open position of chief executive officer at Cliffs Natural Resources Inc.

New York-based Casablanca Capital, which hold a 5.2-percent stake in Cliffs, delivered a letter to the mining company declaring its intention to nominate a majority of directors for election to Cliffs’ board of directors at its 2014 annual meeting, the investment firm said in a statement.

Goncalves, a 30-year veteran of the metals and mining industry who recently made a $1-million personal investment in Cliffs shares, has agreed to be a Casablanca director nominee.....

Latest Pricing Trends


Are you stocking more inventory today than 18 months ago?


View previous results