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AK Steel Holding Corp (AKS.N)

AKS.N on New York Stock Exchange

1.55USD
12 Mar 2020
Change (% chg)

$-0.25 (-13.89%)
Prev Close
$1.80
Open
$1.63
Day's High
$1.70
Day's Low
$1.55
Volume
18,472,614
Avg. Vol
1,884,510
52-wk High
$3.59
52-wk Low
$1.55

Latest Key Developments (Source: Significant Developments)

Cleveland-Cliffs And AK Steel Announce Shareholder Approvals Of Merger Agreement
Tuesday, 10 Mar 2020 

March 10 (Reuters) - AK Steel Holding Corp ::CLEVELAND-CLIFFS AND AK STEEL ANNOUNCE SHAREHOLDER APPROVALS OF MERGER AGREEMENT.  Full Article

Cleveland-Cliffs And Ak Steel Receive Final Required Regulatory Approvals To Complete Acquisition
Friday, 21 Feb 2020 

Cleveland-Cliffs Inc ::CLEVELAND-CLIFFS AND AK STEEL RECEIVE FINAL REQUIRED REGULATORY APPROVALS TO COMPLETE ACQUISITION.  Full Article

AK Steel Reports Q4 Adjusted Loss Per Share $0.11
Thursday, 20 Feb 2020 

Feb 20 (Reuters) - AK Steel Holding Corp ::ANNOUNCES FOURTH QUARTER AND FULL-YEAR 2019 FINANCIAL RESULTS.Q4 ADJUSTED LOSS PER SHARE $0.11.Q4 LOSS PER SHARE $0.17.Q4 EARNINGS PER SHARE ESTIMATE $-0.10 -- REFINITIV IBES DATA.Q4 REVENUE $1.4 BILLION VERSUS REFINITIV IBES ESTIMATE OF $1.48 BILLION.HOLDING CORP QUARTERLY ADJUSTED LOSS PER SHARE $0.11.HOLDING CORP - QTRLY SELLING PRICE PER FLAT-ROLLED STEEL TON $1,027 VERSUS $1,106.  Full Article

AK Steel Holding Corp Says Co, Cleveland-Cliffs To Pay A Termination Fee Equal To $30 Mln If Merger Agreement Is Terminated In Certain Circumstances
Wednesday, 4 Dec 2019 

Dec 4 (Reuters) - AK Steel Holding Corp ::AK STEEL HOLDING CORP - CO, CLEVELAND-CLIFFS TO PAY A TERMINATION FEE EQUAL TO $30 MILLION IF MERGER AGREEMENT IS TERMINATED IN CERTAIN CIRCUMSTANCES.  Full Article

Cleveland-Cliffs To Acquire AK Steel
Tuesday, 3 Dec 2019 

Dec 3 (Reuters) - AK Steel Holding Corp ::CLEVELAND-CLIFFS TO ACQUIRE AK STEEL.CLEVELAND-CLIFFS INC - FIXED EXCHANGE RATIO IMPLIES A CONSIDERATION OF $3.36 PER SHARE OF AK STEEL COMMON STOCK.CLEVELAND-CLIFFS INC - TRANSACTION IMPLIES AN AGGREGATE CONSIDERATION TO AK STEEL SHAREHOLDERS OF APPROXIMATELY $1.1 BILLION.CLEVELAND-CLIFFS INC - DEAL FOR TOTAL ENTERPRISE VALUE OF APPROXIMATELY $3.0 BILLION.CLEVELAND-CLIFFS INC - CLIFFS SHAREHOLDERS WILL OWN APPROXIMATELY 68% OF COMBINED COMPANY.CLEVELAND-CLIFFS - UNDER TERMS , AK STEEL SHAREHOLDERS WILL RECEIVE 0.40 SHARES OF CLIFFS COMMON STOCK.CLEVELAND-CLIFFS INC - CLIFFS HAS OBTAINED AN APPROXIMATELY $2 BILLION FINANCING COMMITMENT FROM CREDIT SUISSE.CLEVELAND-CLIFFS INC - TRANSACTION HAS BEEN UNANIMOUSLY APPROVED BY BOTH COMPANIES' BOARDS.CLEVELAND-CLIFFS INC - LOURENCO GONCALVES, CHAIRMAN OF BOARD, PRESIDENT AND CEO OF CLIFFS, WILL LEAD EXPANDED ORGANIZATION.CLEVELAND-CLIFFS - COMBINATION IS EXPECTED TO GENERATE ABOUT $120 MILLION OF ANNUAL COST SYNERGIES TO BE FULLY REALIZED WITHIN FIRST 1 YEAR AFTER CLOSING.CLEVELAND-CLIFFS INC - DEAL SEES REALIZATION OF $120 MILLION IN ANNUAL COST SYNERGIES.CLEVELAND-CLIFFS INC - TRANSACTION WILL BE LEVERAGE-NEUTRAL WITH PRO FORMA TOTAL DEBT TO ADJUSTED EBITDA OF 3.5X.CLEVELAND-CLIFFS INC - NEWPORT WILL RETIRE AS CEO AND A DIRECTOR OF AK STEEL..CLEVELAND-CLIFFS INC - CLIFFS WILL CONTINUE TO BE LISTED ON NYSE WITH ITS HEADQUARTERS IN CLEVELAND.  Full Article

AK Steel Transfers Over $600 Million In Pension Obligations
Wednesday, 20 Nov 2019 

Nov 20 (Reuters) - AK Steel Holding Corp ::AK STEEL TRANSFERS OVER $600 MILLION IN PENSION OBLIGATIONS.AK STEEL HOLDING - PURCHASED GROUP ANNUITY CONTRACT FROM MASSACHUSETTS MUTUAL LIFE INSURANCE CO TO TRANSFER ABOUT $615 MILLION OF PENSION OBLIGATIONS.AK STEEL - CONTRACT PERMANENTLY TRANSFERS RESPONSIBILITY TO PAY PENSION BENEFIT OBLIGATIONS OF ABOUT $615 MILLION FOR ABOUT 4,250 RETIREES FROM CO TO MASSMUTUAL.AK STEEL HOLDING CORP - ANNUITY CONTRACT TRANSACTION WAS FUNDED ENTIRELY WITH PENSION PLAN ASSETS.AK STEEL HOLDING - DUE TO TRANSACTION, EXPECTS TO RECORD NON-CASH PENSION SETTLEMENT CHARGE OF ABOUT $25 MILLION IN Q4 2019.  Full Article

AK Steel Holding Sees 2019 EPS Of About $0.08 To $0.13
Thursday, 31 Oct 2019 

Oct 30 (Reuters) - AK Steel Holding Corp ::AK STEEL HOLDING CORP -SEES 2019 EARNINGS PER SHARE OF ABOUT $0.08 TO $0.13.AK STEEL HOLDING CORP -SEES 2019 AVERAGE FLAT-ROLLED SELLING PRICE ROUGHLY THE SAME AS 2018.AK STEEL HOLDING CORP -SEES 2019 MAJOR MAINTENANCE OUTAGES OF ABOUT $70 TO $80 MILLION.AK STEEL HOLDING - OVERALL DEMAND FOR STEEL REMAINS RELATIVELY GOOD.AK STEEL HOLDING - VEHICLE PRODUCTION IN 2019, AS EXPECTED, WILL BE SLIGHTLY LOWER THAN 2018.AK STEEL HOLDING SAYS SLIGHT DECREASE IN VEHICLE PRODUCTION EXPECTED IN 2020 - PRESENTATION.  Full Article

AK Steel Holding Says Qtrly Earnings Per Share $0.01
Thursday, 31 Oct 2019 

Oct 30 (Reuters) - AK Steel Holding Corp ::QTRLY EARNINGS PER SHARE $0.01.QTRLY NET SALES $1,535.5 MILLION VERSUS $1,735.6 MILLION.QTRLY ADJUSTED DILUTED EARNINGS PER SHARE $0.01.AVERAGE SELLING PRICE PER TON OF FLAT-ROLLED STEEL DOWN 4% TO $1,067 IN Q3 OF 2019.AK STEEL HOLDING - FLAT-ROLLED STEEL SHIPMENTS OF 1,303,000 TONS FOR Q3 OF 2019 DOWN 8% FROM SAME QUARTER A YEAR AGO.AK STEEL HOLDING-EXPERIENCED MODEST REDUCTION IN SHIPMENTS TO AUTOMOTIVE MARKET IN QUARTER DUE TO EFFECTS OF GM STRIKE, SLIGHTLY LOWER AUTOMOTIVE VEHICLE BUILDS.EXPECT RESULTS FOR Q4 OF 2019 TO BE NEGATIVELY IMPACTED BY EFFECTS OF GM STRIKE.Q3 EARNINGS PER SHARE VIEW $0.04, REVENUE VIEW $1.65 BILLION -- REFINITIV IBES DATA.  Full Article

AK Steel Posts Q3 EPS Of $0.01
Thursday, 31 Oct 2019 

Oct 30 (Reuters) - Ak Steel Holding Corp ::AK STEEL ANNOUNCES THIRD QUARTER 2019 FINANCIAL RESULTS.Q3 EARNINGS PER SHARE $0.01.Q3 EARNINGS PER SHARE ESTIMATE $0.04 -- REFINITIV IBES DATA.SEES FY 2019 ADJUSTED EARNINGS PER SHARE $0.32 TO $0.37 EXCLUDING ITEMS.Q3 SALES $1.5 BILLION VERSUS REFINITIV IBES ESTIMATE OF $1.65 BILLION.SINCE JULY, PRICING FOR CARBON HOT-ROLLED COIL PRODUCTS HAS FALLEN MORE SHARPLY THAN PREVIOUSLY ANTICIPATED.SEES REDUCTION OF FLAT-ROLLED STEEL SHIPMENTS TO BETWEEN APPROXIMATELY 5.3 AND 5.4 MILLION TONS FOR FULL YEAR.REDUCTION IN FLAT-ROLLED STEEL SHIPMENTS FORECAST DUE TO LOWER ORDER VOLUMES AND IMPACT OF STRIKE AT GENERAL MOTORS.FY2019 EARNINGS PER SHARE VIEW $0.42 -- REFINITIV IBES DATA.QTRLY FLAT-ROLLED STEEL SHIPMENTS 1.3 MILLION TONS VERSUS 1.4 MILLION TONS.QTRLY SELLING PRICE PER FLAT-ROLLED STEEL TON$1,067 VERSUS $1,114.  Full Article

Ak Steel Enters Licensing Agreement Involving Its Ultralume Phs Steel Product
Monday, 28 Oct 2019 

Oct 28 (Reuters) - AK Steel Holding Corp ::AK STEEL ENTERS LICENSING AGREEMENT INVOLVING ITS ULTRALUME® PHS HIGH STRENGTH, HIGH FORMABILITY STEEL PRODUCT.AK STEEL HOLDING - UNDER AGREEMENT WITH ARCELORMITTAL, CO HAS FULL RIGHTS TO MANUFACTURE AND SELL ITS ULTRALUME PHS PRODUCT FOR HOT STAMPING.AK STEEL - AGREEMENT IS PART OF SETTLEMENT OF PATENT INFRINGEMENT CASE THAT HAS BEEN PENDING IN FEDERAL DISTRICT COURT BETWEEN CO, ARCELORMITTAL.AK STEEL- WILL BE SOLE LICENSEE, ALONG WITH LICENSOR'S UNITS, ALLOWED TO PRODUCE ALUMINIZED BORON PRESS HARDENABLE STEEL IN U.S., CANADA OR MEXICO.AK STEEL HOLDING CORP - EXPECTS TO "SIGNIFICANTLY EXPAND" ITS SALES OF ULTRALUME PHS PRODUCT AS A RESULT OF DISPUTE BEING RESOLVED.  Full Article

AK Steel buyer warns of plant closures without stronger U.S. import curbs

WASHINGTON, March 5 The new buyer of AK Steel warned lawmakers on Thursday that without better protection against imports of electrical steel products into the United States, two of the company's mills would be forced to close with the loss of 1,600 jobs.

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