Hedge fund Harbinger Capital Partners may be trying to raise its stake in Cleveland Cliffs Inc, but the iron-ore company has some protection in its home state of Ohio.

Cleveland Cliffs lacks many of the typical corporate takeover defenses, such as a poison pill or a staggered board of directors.

But since it is incorporated in the Buckeye State, Cleveland Cliffs has protection under a state statute that prohibits a party from acquiring more than 20 percent of a local company unless the transaction is approved by shareholders, according to research firm FactSet SharkRepellent. Tweny six other states have similiar statutes, the research firm said.

Harbinger, which owns about 15.6 percent of Cleveland Cliffs, said in a filing with the U.S. Securities and Exchange Commission that it is seeking shareholder approval to acquire a larger stake in the company.

Harbinger opposes the iron-ore company’s proposed takeover of Alpha Natural Resources. Harbinger contends that the $8.1 billion Alpha deal is not in the best interest of shareholders.

And who knows–Ohio may have more to help Cleveland Cliffs than just the 20 percent law. The state’s motto is “With God All Things Are Possible,” so any hedge funds that mess with Cleveland Cliffs may have to answer to a higher power. And the state rock song is “Hang on Sloopy,” which may inspire Cleveland Cliffs to hang on as its battles the hedge fund.

(PHOTO: Cleveland Cliffs’ corporate website)