Black Cleaver vs. Tank Update items
Either remove the CDR from Cleaver, or add 20 CDR into the both Dead Man's and Sunfire. The gold cost of 20% cdr is actually less than the 580 difference in gold efficiency, so either direction would be completely balanced.
Black Cleaver has 100% gold efficiency with 400 hp, 20% cdr, 24% armor reduction, and 20-60% movement speed. At only 3000 cost. Sunfire and Deadman's have only 80% efficiency, 425 HP, 60 armor, and their respective passives which in deadman's case only brings it to 105% efficiency until you attack -- the efficiency from movespeed is meaningless in combat.
So you're effectively paying 480g more for a weaker item even though it's supposed to defend against physical damage. And no cooldown reduction.
Via the equations you can find on the wiki, the 10 armor increase (only a 7.6 armor increase after being slashed by Cleaver) falls far short of matching the 75 HP reduction, so that rather than Riot's goal of the items being just as effective against their damage type they're simply less effective against all possible damage types.
So Cleaver, which was already at an advantage against an armor+HP item to start due to the large amount of cooldown reduction and more effective build path, is now drastically stronger against these items. Especially for champions whose kits have such low mana costs and high inherent defenses that they can rush it with no downsides.