Cliffs said Wednesday that the Canadian Competition Bureau issued a no-action letter, affirming that it does not intend to challenge Cliffs’ pending acquisition. The action follows a similar step by the U. S. Justice Department, which allowed a waiting period to expire. 

Additionally, Cliffs said it has lined up the remaining capital needed to fund the transaction. The company said it the deal is on track to close before the year ends. 

“We have achieved three important milestones this week toward closing the acquisition of Stelco,” said Cliffs chairman and chief executive officer Lourenco Goncalves. “We look forward to closing the transaction once the remaining conditions to closing are satisfied."