Cliffs sees two Casablanca nominees joining its board

|About: Cliffs Natural Resources Inc. (CLF)|By:, SA News Editor

Cliffs Natural Resources (CLF) says it expects at least two nominees proposed by Casablanca Capital will be appointed to the company's board at its annual meeting set for July 29.

CLF says that based on discussions with various shareholders, its board believes it is in shareholders' best interests for a slate of nine directors to be nominated for its 11-person board.

Tensions between CLF and Casablanca have been high since the beginning of the year, as the 5% shareholder has issued proposals to enhance value for CLF shareholders and sought to seek control of CLF's board.