US Steel explores options after rejecting $7.3 billion offer from Cleveland-Cliffs
United States Steel Corp (X.N) on Sunday launched a formal review of its strategic options, after rebuffing a takeover offer from rival steelmaker Cleveland-Cliffs Inc (CLF.N). The unsolicited cash-and-stock offer from Ohio-based Cliffs valued U.S. Steel at about $7.3 billion, representing a 43 per cent premium to its closing price on Friday.
United States Steel Corp (X.N) on Sunday launched a formal review of its strategic options, after rebuffing a takeover offer from rival steelmaker Cleveland-Cliffs Inc (CLF.N). Image: Reuters