Cliffs expects two Casablanca nominees will join its board
June 10 (Reuters) - Cliffs Natural Resources Inc said on Tuesday it expects that at least two nominees proposed by activist investor Casablanca Capital will be appointed to the mining company's board at its annual meeting in July.
Cliffs said that based on discussions with various shareholders, its board believes it is in shareholdes' best interests for a slate of nine directors to be nominated for its eleven-person board.
"As a result ... we believe that at least two of Casablanca's proposed nominees will be elected to the Cliffs board, assuming that Casablanca continues its proxy contest," Cliffs said in a statement. (Reporting by Nicole Mordant in Vancouver; Editing by David Gregorio)
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