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U.S. Steel Stock Lower After News of 200 Furloughs in Michigan. By Cherella Cox. Aug 20, 2019 4:39 PM EDT. INVESTING. U.S. Steel Beats Estimates, But Shares Tumble on Dwindling Profits.Cleveland-Cliffs to Buy AK Steel in $1.1B Stock Deal - CFODec 03, 2019 · Cleveland-Cliffs has reached an agreement to buy Ohio steelmaker AK Steel for about $1.1 billion in stock, the companies announced.The combined company will match Cleveland-Cliffs mining operations with AK Steels steel production. Under the deal, AK Steel shareholders will receive 0.40 shares of Cliffs common stock for each outstanding share of AK Steel common stock.