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U.S. Steel stock soars nearly 40% after company rejects $7.3 billion Cleveland-Cliffs offer, new bid emerges

Por: MarketWatch Business August 15, 2023

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Ohio-based Cleveland-Cliffs, the largest producer of flat-rolled steel in North America and the largest supplier of steel to the auto industry in the region, on Sunday made public a previously private offer for U.S. Steel for a per-share value of $17.50 in cash and 1.023 shares of Cleveland-Cliffs’ stock. That represents a 43% premium based on Friday’s closing stock price, valuing the company at about $7.25 billion. Cleveland-Cliffs’ offer... + full article



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