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Cliffs Natural Resources

Essex Property To Replace Cliffs On S&P 500

Essex Property Trust Inc. will replace Cliffs Natural Resources Inc. on the S&P 500 Index , S&P Dow Jones Indices said late Wednesday. Essex, with a $6.4 billion market cap, is expected to close on a deal to acquire $4.7 billion cap BRE Properties Inc. on April 1. S&P said that $2.9 billion cap Cliffs will be moved to the more representative S&P MidCap 400 Index. Shares of Essex Property rose 2.2% to $169, while shares of Cliffs declined 0.8% to $19.10 in after-hours activity.Copyright © 2014 MarketWatch, Inc....

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