 gaining 315 points. The S&P 500 has gained 28, and the NASDAQ is up 114. Steelmaker Cleveland Cliff says it will in fact buy Canadian peer Stelco Holdings for $2.8 billion, marking its first acquisition since a failed bid for rival U.S. Steel last year. Officials with Cliff says they stand to benefit from the deal as the enterprise value has a lower cost structure compared to building a new mill in the U.S.,