14
Aug
20:39
US Steel rejects Cleveland-Cliffs' $7.3 billion bid
The nation's second-largest domestic steel producer by volume, US Steel, has rejected an unsolicited $7.3 billion buyout proposal from competitor Cleveland-Cliffs, the third-largest domestic producer.
US Steel notes that it has received acquisition proposals from multiple other parties. The board of directors for US Steel is commenting specifically on Cleveland-Cliffs' offer due to a failure in negotiations between the parties.
"At this juncture, we …
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Anonymous
Very good overview of the weekly steel market.
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