Opinion on  ClevelandCliffs Inc (CLF)     Sector: Basic Materials  >  Industry: Metal Mining
New development in the ANR deal

See my analysis on the ANR deal and why CLF is in such a good position in todays market.  but as a merger investor, why am i now adding CLF if they arent being taken over?
Because there is a new development in the deal.  it looks like the largest shareholder of CLF is now going to try and fetch a nice price for CLF and might shop around for offers of over 130 dollars per share.  see this article for more info.
http://online.wsj.com/article/SB121719872170588285.html?mod=g...

Cleveland-Cliffs Inc. reported an extremely profitable second quarter Wednesday. For the three-month period that ended June 30, the company cleared $270.2 million — more than tripling what it earned during the second quarter of last year.

It bulldozed over estimates yet took a drop today, a probable result of profit-taking after the run up of the last three days heading into earnings.

A great time to buy considering that CLF's largest shareholder is raising a stink about a planned merger with ANR and is reportedly shopping around for offers of 130 dollars per share to sell CLF