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Cliffs Natural Resources (CLF) shares slide further after the company announces a public...

Cliffs Natural Resources (CLF) shares slide further after the company announces a public offering to sell 9M common shares and 20M of its new mandatory convertible preferred shares. Net proceeds will be used to pay down debt and for general corporate purposes. Shares -7.2% AH. (Q4 earnings)
Comments (3)
  • davidingeorgia
    , contributor
    Comments (2713) | Send Message
     
    Apparently the bludgeoning will continue until all shareholders are unconscious.

     

    Disclosure: unfortunately long CLF
    12 Feb 2013, 08:24 PM Reply Like
  • Wachholder
    , contributor
    Comments (67) | Send Message
     
    Really taking it to the equity stakeholders in so many ways. CLF is off my radar for sometime to come - saying the least..
    13 Feb 2013, 04:17 AM Reply Like
  • toddzila
    , contributor
    Comments (7) | Send Message
     
    The hits keep on coming! Now they have to lower guidance to complete the trifecta
    13 Feb 2013, 04:19 AM Reply Like
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