Cliffs Natural says activist investor rejects offer to end proxy fight
March 7 (Reuters) - Iron ore producer Cliffs Natural Resources Inc said Casablanca Capital LP rejected an offer to settle a proxy fight and the activist investor was seeking full control of the company's board.
Cliffs said it offered to allow Casablanca appoint two independent directors to the board. A third director was to be appointed on mutual agreement.
Casablanca, Cliffs' fifth-largest shareholder with about a 5 percent stake, nominated six directors for election on Thursday.
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