Patrice Merrin, a Canadian mining executive, has withdrawn from the slate of directors nominated by activist investor Casablanca Capital to the board of Cliffs Natural Resources Inc after she was appointed to the board of Glencore Plc, Casablanca said on Thursday. Casablanca, which owns 5.2 percent of Cliffs, has put up a rival slate to replace a majority of the directors at Cliffs, a U.S.-based iron ore and metallurgical coal miner.
Cliffs Natural Resources Inc. is an international mining and natural resources company. Shares of CLF traded higher by 1.81% or $0.2601/share to $14.62. In the past year, the shares have traded as low as $13.60 and as high as $28.98. On average, 5674940 shares of CLF exchange hands on a given day and today's volume is recorded at 878937.
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