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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
SCHEDULE 13D
(Rule 13d-101)
INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT
TO RULE 13d-1(a) AND AMENDMENTS THERETO FILED PURSUANT TO
RULE 13d-2(a)
(AMENDMENT NO. 2)*
CLIFFS NATURAL RESOURCES INC.
(Name of Issuer)
COMMON SHARES (PAR VALUE $0.125 PER SHARE)
(Title of Class of Securities)
185896107
(CUSIP Number)
JOEL B. PIASSICK
2100 THIRD AVENUE NORTH, SUITE 600
BIRMINGHAM, ALABAMA 35203
(Name, Address and Telephone Number of
Person Authorized to Receive Notices
and Communications)
JANUARY 8, 2009
(Date of Event which Requires Filing
of This Statement)
If the filing person has previously filed a statement on Schedule 13G to report
the acquisition that is the subject of this Schedule 13D, and is filing this
schedule because of Rule 13d-1(e), 13d-1(f) or 13d-1(g), check the following
box [_]
Note: Schedules filed in paper format shall include a signed original and five
copies of the schedule, including all exhibits. See Rule 13d-7 for other
parties to whom copies are to be sent.
IMPORTANT NOTE: THE SECURITIES SET FORTH IN THIS REPORT ARE DIRECTLY
BENEFICIALLY OWNED BY HARBINGER CAPITAL PARTNERS MASTER FUND I, LTD. AND/OR
HARBINGER CAPITAL PARTNERS SPECIAL SITUATIONS FUND, L.P. (COLLECTIVELY, THE
"FUNDS"). ALL OTHER ENTITIES AND PERSONS ARE INCLUDED WITHIN THIS REPORT DUE TO
THEIR AFFILIATION WITH ONE OR BOTH OF THE FUNDS.
* The remainder of this cover page shall be filled out for a reporting person's
initial filing on this form with respect to the subject class of securities,
and for any subsequent amendment containing information which would alter
disclosures provided in a prior cover page.
The information required on the remainder of this cover page shall not be
deemed to be "filed" for the purpose of Section 18 of the Securities Exchange
Act of 1934 or otherwise subject to the liabilities of that section of the Act
but shall be subject to all other provisions of the Act (however, see the
Notes).
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CUSIP NO. 185896107 Page 2 of 17
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SCHEDULE 13D
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1 NAME OF REPORTING PERSONS
Harbinger Capital Partners Master Fund I, Ltd.
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [_]
(b) [X]
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3 SEC USE ONLY
--------------------------------------------------------------------------------
4 SOURCE OF FUNDS
WC
--------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) or 2(e)
[_]
--------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Cayman Islands
--------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF -0-
------------------------------------------------
SHARES 8 SHARED VOTING POWER
BENEFICIALLY OWNED 7,902,754
------------------------------------------------
BY EACH REPORTING 9 SOLE DISPOSITIVE POWER
PERSON -0-
------------------------------------------------
WITH 10 SHARED DISPOSITIVE POWER
7,902,754
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
7,902,754
--------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
[_]
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
6.96%
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
CO
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CUSIP NO. 185896107 Page 3 of 17
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SCHEDULE 13D
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1 NAME OF REPORTING PERSONS
Harbinger Capital Partners Offshore Manager, L.L.C.
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [_]
(b) [X]
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3 SEC USE ONLY
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4 SOURCE OF FUNDS
AF
--------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) or 2(e)
[_]
--------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
--------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF -0-
------------------------------------------------
SHARES 8 SHARED VOTING POWER
BENEFICIALLY OWNED 7,902,754
------------------------------------------------
BY EACH REPORTING 9 SOLE DISPOSITIVE POWER
PERSON -0-
------------------------------------------------
WITH 10 SHARED DISPOSITIVE POWER
7,902,754
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
7,902,754
--------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
[_]
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
6.96%
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
OO
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CUSIP NO. 185896107 Page 4 of 17
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SCHEDULE 13D
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1 NAME OF REPORTING PERSONS
HMC Investors, L.L.C.
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [_]
(b) [X]
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3 SEC USE ONLY
--------------------------------------------------------------------------------
4 SOURCE OF FUNDS
AF
--------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) or 2(e)
[_]
--------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
--------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF -0-
------------------------------------------------
SHARES 8 SHARED VOTING POWER
BENEFICIALLY OWNED 7,902,754
------------------------------------------------
BY EACH REPORTING 9 SOLE DISPOSITIVE POWER
PERSON -0-
------------------------------------------------
WITH 10 SHARED DISPOSITIVE POWER
7,902,754
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
7,902,754
--------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
[_]
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
6.96%
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
OO
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CUSIP NO. 185896107 Page 5 of 17
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SCHEDULE 13D
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1 NAME OF REPORTING PERSONS
Harbinger Capital Partners Special Situations Fund, L.P.
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [_]
(b) [X]
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3 SEC USE ONLY
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4 SOURCE OF FUNDS
WC
--------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) or 2(e)
[_]
--------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
--------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF -0-
------------------------------------------------
SHARES 8 SHARED VOTING POWER
BENEFICIALLY OWNED 7,059,514
------------------------------------------------
BY EACH REPORTING 9 SOLE DISPOSITIVE POWER
PERSON -0-
------------------------------------------------
WITH 10 SHARED DISPOSITIVE POWER
7,059,514
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
7,059,514
--------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
[_]
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
6.22%
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
PN
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CUSIP NO. 185896107 Page 6 of 17
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SCHEDULE 13D
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1 NAME OF REPORTING PERSONS
Harbinger Capital Partners Special Situations GP, L.L.C.
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [_]
(b) [X]
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3 SEC USE ONLY
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4 SOURCE OF FUNDS
AF
--------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) or 2(e)
[_]
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6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
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7 SOLE VOTING POWER
NUMBER OF -0-
------------------------------------------------
SHARES 8 SHARED VOTING POWER
BENEFICIALLY OWNED 7,059,514
------------------------------------------------
BY EACH REPORTING 9 SOLE DISPOSITIVE POWER
PERSON -0-
------------------------------------------------
WITH 10 SHARED DISPOSITIVE POWER
7,059,514
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
7,059,514
--------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
[_]
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
6.22%
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
OO
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CUSIP NO. 185896107 Page 7 of 17
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SCHEDULE 13D
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1 NAME OF REPORTING PERSONS
HMC - New York, Inc.
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [_]
(b) [X]
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3 SEC USE ONLY
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4 SOURCE OF FUNDS
AF
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) or 2(e)
[_]
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6 CITIZENSHIP OR PLACE OF ORGANIZATION
New York
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7 SOLE VOTING POWER
NUMBER OF -0-
------------------------------------------------
SHARES 8 SHARED VOTING POWER
BENEFICIALLY OWNED 7,059,514
------------------------------------------------
BY EACH REPORTING 9 SOLE DISPOSITIVE POWER
PERSON -0-
------------------------------------------------
WITH 10 SHARED DISPOSITIVE POWER
7,059,514
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
7,059,514
--------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
[_]
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
6.22%
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
CO
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CUSIP NO. 185896107 Page 8 of 17
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SCHEDULE 13D
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1 NAME OF REPORTING PERSONS
Harbert Management Corporation
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [_]
(b) [X]
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3 SEC USE ONLY
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4 SOURCE OF FUNDS
AF
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) or 2(e)
[_]
--------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Alabama
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7 SOLE VOTING POWER
NUMBER OF -0-
------------------------------------------------
SHARES 8 SHARED VOTING POWER
BENEFICIALLY OWNED 7,059,514
------------------------------------------------
BY EACH REPORTING 9 SOLE DISPOSITIVE POWER
PERSON -0-
------------------------------------------------
WITH 10 SHARED DISPOSITIVE POWER
7,059,514
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
7,059,514
--------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
[_]
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
6.22%
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
CO
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CUSIP NO. 185896107 Page 9 of 17
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SCHEDULE 13D
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1 NAME OF REPORTING PERSONS
Philip Falcone
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [_]
(b) [X]
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3 SEC USE ONLY
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4 SOURCE OF FUNDS
AF
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) or 2(e)
[_]
--------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
U.S.A.
--------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF -0-
------------------------------------------------
SHARES 8 SHARED VOTING POWER
BENEFICIALLY OWNED 14,962,268
------------------------------------------------
BY EACH REPORTING 9 SOLE DISPOSITIVE POWER
PERSON -0-
------------------------------------------------
WITH 10 SHARED DISPOSITIVE POWER
14,962,268
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
14,962,268
--------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
[_]
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
13.18%
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
IN
--------------------------------------------------------------------------------
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CUSIP NO. 185896107 Page 10 of 17
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SCHEDULE 13D
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1 NAME OF REPORTING PERSONS
Raymond J. Harbert
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [_]
(b) [X]
--------------------------------------------------------------------------------
3 SEC USE ONLY
--------------------------------------------------------------------------------
4 SOURCE OF FUNDS
AF
--------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) or 2(e)
[_]
--------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
U.S.A.
--------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF -0-
------------------------------------------------
SHARES 8 SHARED VOTING POWER
BENEFICIALLY OWNED 14,962,268
------------------------------------------------
BY EACH REPORTING 9 SOLE DISPOSITIVE POWER
PERSON -0-
------------------------------------------------
WITH 10 SHARED DISPOSITIVE POWER
14,962,268
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
14,962,268
--------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
[_]
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
13.18%
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
IN
--------------------------------------------------------------------------------
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CUSIP NO. 185896107 Page 11 of 17
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SCHEDULE 13D
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1 NAME OF REPORTING PERSONS
Michael D. Luce
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [_]
(b) [X]
--------------------------------------------------------------------------------
3 SEC USE ONLY
--------------------------------------------------------------------------------
4 SOURCE OF FUNDS
AF
--------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) or 2(e)
[_]
--------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
U.S.A.
--------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF -0-
------------------------------------------------
SHARES 8 SHARED VOTING POWER
BENEFICIALLY OWNED 14,962,268
------------------------------------------------
BY EACH REPORTING 9 SOLE DISPOSITIVE POWER
PERSON -0-
------------------------------------------------
WITH 10 SHARED DISPOSITIVE POWER
14,962,268
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
14,962,268
--------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
[_]
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
13.18%
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
IN
--------------------------------------------------------------------------------
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CUSIP NO. 185896107 Page 12 of 17
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Item 1. SECURITY AND ISSUER.
This Amendment No. 2 to Schedule 13D ("Amendment No. 2") is being
filed by the undersigned to amend the Schedule 13D filed by the Reporting
Persons on July 17, 2008, as amended by Amendment No. 1 filed on August 14,
2008 (as amended, the "Schedule 13D") with respect to the Common Shares, $0.125
par value per share (the "Shares"), of Cliffs Natural Resources Inc., an Ohio
corporation (the "Issuer"). The address of the Issuer is 1100 Superior Avenue,
Cleveland, Ohio 44114-2544.
Item 2. IDENTITY AND BACKGROUND.
No material change.
Item 3. SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION.
No material change.
Item 4. PURPOSE OF TRANSACTION.
Item 4 of the Schedule 13D is hereby amended by adding the following
after the last paragraph thereof:
"The Master Fund and the Special Fund (collectively, the "Funds")
issued a press release on January 9, 2009 (the "Press Release") announcing, as
part of their ongoing portfolio management and rebalancing, a reduction in
their exposure to the Issuer in order to bring their position in the Issuer in
line with current portfolio metrics and may continue to do so in the future, as
conditions permit. The Funds stated that they maintain their conviction that
the Issuer controls unique and valuable assets and believe that the Issuer will
be one of the prime beneficiaries of the eventual economic recovery. The Funds
further stated that although they have adjusted their stake in the Issuer, they
maintain their commitment to support value-maximizing strategies at the Issuer
and, as such, the Funds reserved their right to be in contact with members of
the Issuer's management, members of the Board, shareholders and other relevant
parties regarding alternatives that the Issuer could employ to maximize
shareholder value. The Funds also stated that they reserve the right to
repurchase Shares in the future if they deem it appropriate for their investors
and should the Funds' portfolio metrics permit."
Item 5. INTEREST IN SECURITIES OF THE ISSUER.
Item 5 of the Schedule 13D is hereby amended by deleting paragraphs
(a) and (b) thereof and replacing such items with the following:
"References to percentage ownerships of Shares in this Schedule 13D
are based upon the 113,502,463 Shares stated to be outstanding as of October
27, 2008 by the Issuer in the Issuer's Quarterly Report on Form 10-Q for the
quarter ended September 30, 2008.
(a, b) As of the date hereof, the Master Fund may be deemed to be the
beneficial owner of 7,902,754 Shares, constituting 6.96% of the Shares
outstanding of the Issuer.
The Master Fund has the sole power to vote or direct the vote of 0
Shares; has the shared power to vote or direct the vote of 7,902,754 Shares;
has sole power to dispose or direct the disposition of 0 Shares; and has shared
power to dispose or direct the disposition of 7,902,754 Shares.
The Master Fund specifically disclaims beneficial ownership in the
Shares reported herein except to the extent it actually exercises voting or
dispositive power with respect to such Shares.
(a, b) As of the date hereof, Harbinger Manager may be deemed to be
the beneficial owner of 7,902,754 Shares, constituting 6.96% of the Shares
outstanding of the Issuer.
Harbinger Manager has the sole power to vote or direct the vote of 0
Shares; has the shared power to vote or direct the vote of 7,902,754 Shares;
has sole power to dispose or direct the disposition of 0 Shares; and has shared
power to dispose or direct the disposition of 7,902,754 Shares.
Harbinger Manager specifically disclaims beneficial ownership in the
Shares reported herein except to the extent it actually exercises voting or
dispositive power with respect to such Shares.
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CUSIP NO. 185896107 Page 13 of 17
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(a, b) As of the date hereof, HMC Investors may be deemed to be the
beneficial owner of 7,902,754 Shares, constituting 6.96% of the Shares
outstanding of the Issuer.
HMC Investors has the sole power to vote or direct the vote of 0
Shares; has the shared power to vote or direct the vote of 7,902,754 Shares;
has sole power to dispose or direct the disposition of 0 Shares; and has shared
power to dispose or direct the disposition of 7,902,754 Shares.
HMC Investors specifically disclaims beneficial ownership in the
Shares reported herein except to the extent it actually exercises voting or
dispositive power with respect to such Shares.
(a, b) As of the date hereof, the Special Fund may be deemed to be the
beneficial owner of 7,059,514 Shares, constituting 6.22% of the Shares
outstanding of the Issuer.
The Special Fund has the sole power to vote or direct the vote of 0
Shares; has the shared power to vote or direct the vote of 7,059,514 Shares;
has sole power to dispose or direct the disposition of 0 Shares; and has shared
power to dispose or direct the disposition of 7,059,514 Shares.
The Special Fund specifically disclaims beneficial ownership in the
Shares reported herein except to the extent it actually exercises voting or
dispositive power with respect to such Shares.
(a, b) As of the date hereof, HCPSS may be deemed to be the beneficial
owner of 7,059,514 Shares, constituting 6.22% of the Shares outstanding of the
Issuer.
HCPSS has the sole power to vote or direct the vote of 0 Shares; has
the shared power to vote or direct the vote of 7,059,514 Shares; has sole power
to dispose or direct the disposition of 0 Shares; and has shared power to
dispose or direct the disposition of 7,059,514 Shares.
HCPSS specifically disclaims beneficial ownership in the Shares
reported herein except to the extent it actually exercises voting or
dispositive power with respect to such Shares.
(a, b) As of the date hereof, HMCNY may be deemed to be the beneficial
owner of 7,059,514 Shares, constituting 6.22% of the Shares outstanding of the
Issuer.
HMCNY has the sole power to vote or direct the vote of 0 Shares; has
the shared power to vote or direct the vote of 7,059,514 Shares; has sole power
to dispose or direct the disposition of 0 Shares; and has shared power to
dispose or direct the disposition of 7,059,514 Shares.
HMCNY specifically disclaims beneficial ownership in the Shares
reported herein except to the extent it actually exercises voting or
dispositive power with respect to such Shares.
(a, b) As of the date hereof, HMC may be deemed to be the beneficial
owner of 7,059,514 Shares, constituting 6.22% of the Shares outstanding of the
Issuer.
HMC has the sole power to vote or direct the vote of 0 Shares; has the
shared power to vote or direct the vote of 7,059,514 Shares; has sole power to
dispose or direct the disposition of 0 Shares; and has shared power to dispose
or direct the disposition of 7,059,514 Shares.
HMC specifically disclaims beneficial ownership in the Shares reported
herein except to the extent it actually exercises voting or
dispositive power with respect to such Shares.
(a, b) As of the date hereof, Philip Falcone may be deemed to be the
beneficial owner of 14,962,268 Shares, constituting 13.18% of the Shares
outstanding of the Issuer.
Mr. Falcone has the sole power to vote or direct the vote of 0 Shares;
has the shared power to vote or direct the vote of 14,962,268 Shares; has sole
power to dispose or direct the disposition of 0 Shares; and has shared power to
dispose or direct the disposition of 14,962,268 Shares.
Mr. Falcone specifically disclaims beneficial ownership in the Shares
reported herein except to the extent he actually exercises voting or
dispositive power with respect to such Shares.
--------------------------- ---------------------------
CUSIP NO. 185896107 Page 14 of 17
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(a, b) As of the date hereof, Raymond J. Harbert may be deemed to be
the beneficial owner of 14,962,268 Shares, constituting 13.18% of the Shares
outstanding of the Issuer.
Mr. Harbert has the sole power to vote or direct the vote of 0 Shares;
has the shared power to vote or direct the vote of 14,962,268 Shares; has sole
power to dispose or direct the disposition of 0 Shares; and has shared power to
dispose or direct the disposition of 14,962,268 Shares.
Mr. Harbert specifically disclaims beneficial ownership in the Shares
reported herein except to the extent he actually exercises voting or
dispositive power with respect to such Shares.
(a, b) As of the date hereof, Michael D. Luce may be deemed to be the
beneficial owner of 14,962,268 Shares, constituting 13.18% of the Shares
outstanding of the Issuer.
Mr. Luce has the sole power to vote or direct the vote of 0 Shares;
has the shared power to vote or direct the vote of 14,962,268 Shares; has sole
power to dispose or direct the disposition of 0 Shares; and has shared power to
dispose or direct the disposition of 14,962,268 Shares.
Mr. Luce specifically disclaims beneficial ownership in the Shares
reported herein except to the extent he actually exercises voting or
dispositive power with respect to such Shares."
(c) The trading dates, number of Shares purchased and sold and price
per share for all transactions in the Shares by the Reporting Persons in the
past sixty (60) days are set forth in Exhibit F."
Item 6. CONTRACTS, ARRANGEMENTS, UNDERSTANDINGS OR RELATIONSHIPS WITH RESPECT
TO SECURITIES OF THE ISSUER.
No material change
Item 7. MATERIAL TO BE FILED AS EXHIBITS.
Exhibit E: Joint Filing Agreement
Exhibit F: Transaction in the Common Shares of Cliffs Natural
Resources Inc.
Exhibit G: Press Release
--------------------------- ---------------------------
CUSIP NO. 185896107 Page 15 of 17
--------------------------- ---------------------------
SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I
certify that the information set forth in this statement is true, complete and
correct.
HARBINGER CAPITAL PARTNERS MASTER FUND I, LTD.
By: Harbinger Capital Partners Offshore
Manager, L.L.C.
By: HMC Investors, L.L.C.,
Managing Member
By: /s/ Joel B. Piassick
----------------------------------------
Name: Joel B. Piassick
Title: Executive Vice President
HARBINGER CAPITAL PARTNERS OFFSHORE MANAGER,
L.L.C.
By: HMC Investors, L.L.C.,
Managing Member
By: /s/ Joel B. Piassick
----------------------------------------
Name: Joel B. Piassick
Title: Executive Vice President
HMC INVESTORS, L.L.C.
By: /s/ Joel B. Piassick
----------------------------------------
Name: Joel B. Piassick
Title: Executive Vice President
--------------------------- ---------------------------
CUSIP NO. 185896107 Page 16 of 17
--------------------------- ---------------------------
HARBINGER CAPITAL PARTNERS SPECIAL SITUATIONS
FUND, L.P.
By: Harbinger Capital Partners Special
Situations GP, LLC
By: HMC - New York, Inc., Managing Member
By: /s/ Joel B. Piassick
----------------------------------------
Name: Joel B. Piassick
Title: Executive Vice President
HARBINGER CAPITAL PARTNERS SPECIAL SITUATIONS
GP, LLC
By: HMC - New York, Inc., Managing Member
By: /s/ Joel B. Piassick
----------------------------------------
Name: Joel B. Piassick
Title: Executive Vice President
HMC - NEW YORK, INC.
By: /s/ Joel B. Piassick
----------------------------------------
Name: Joel B. Piassick
Title: Executive Vice President
HARBERT MANAGEMENT CORPORATION
By: /s/ Joel B. Piassick
----------------------------------------
Name: Joel B. Piassick
Title: Executive Vice President
--------------------------- ---------------------------
CUSIP NO. 185896107 Page 17 of 17
--------------------------- ---------------------------
/s/ Philip Falcone
---------------------------------------------
Philip Falcone
/s/ Raymond J. Harbert
---------------------------------------------
Raymond J. Harbert
/s/ Michael D. Luce
---------------------------------------------
Michael D. Luce
January 12, 2009
Attention: Intentional misstatements or omissions of fact constitute federal
criminal violations (see 18 U.S.C. 1001)