Cleveland-Cliffs (NYSE:CLF) stock is on the move Monday after the flat-rolled steel producer announced its acquisition of Stelco (OTCMKTS:STZHF) for C$3.4 billion.This will have Cleveland-Cliffs paying C$70 per share for the Canadian steel company. This represents an 87% premium of the stock’s closing price on Friday. Its also a 37% premium to its 52-week high.Cleveland-Cliffs chairman, president and CEO Lourenco Goncalves said the following about the purchase of Stelco.“Stelco is a company that respects th ...