One of Butler County's biggest employers is being sold.


One of Butler County's biggest employers is being sold.

Cleveland Cliffs is acquiring A-K Steel in a stock swap valued at just over 1 billion dollars. People who currently have shares of stock in A-K Steel will get .4 shares of stock in Cleveland Cliffs for every share they hold. A-K Steel stock closed yesterday at 2.89 a share and for this deal --- AK stock is valued at 3.36 per share.

Cleveland Cliffs says the corporation's headquarters will stay in Cleveland, however it adds that a significant presence will be maintained at A-K Steels current offices in West Chester as well as at the Research and Innovation Center in Middletown.

A-K Steel employs approximately 2400 people in Butler County, it is the county's third biggest employer.