Harbinger Seeks to Raise Stake in Cleveland Cliffs (CLF)

This is an interesting move considering Harbinger thinks this is the top in the commodity "bubble" - watch what they do, not what they say. Wouldn't one be selling off exposure to commodities if this was the top?

• Hedge fund Harbinger Capital Partners, the largest shareholder in iron-ore company Cleveland Cliffs Inc (CLF), said on Thursday it has sought approval from Cleveland Cliffs' shareholders to raise its ownership stake in the company.
• The hedge fund is opposing Cleveland Cliffs' proposed takeover of Alpha Natural Resources (ANR), as it contends that the Alpha deal is not in the best interest of shareholders.
• Harbinger said in a regulatory filing that it has asked Cliffs' for a shareholder vote that would allow the hedge fund to acquire at least one-fifth or more of Cliffs' outstanding shares.
• Harbinger currently controls about 15.57 percent of Cliffs' shares. It