NEW YORK--(BUSINESS WIRE)--Casablanca Capital LP today issued the following statement regarding the recent sale of its equity position in Cliffs Natural Resources Inc. (NYSE:CLF):
Due to the death of our former chairman and co-founder, Donald Drapkin, Casablanca Capital has decided to wind down its business. In connection with that wind down, we have exited our position in Cliffs Natural Resources Inc., held by funds or accounts managed by Casablanca, entirely.
About Casablanca Capital LP
Casablanca Capital is an activist investment manager based in New York, founded in 2010 by Donald G. Drapkin and Douglas Taylor.