U.S. Steel Rejects $7.3 Billion Takeover Offer, Cleveland-Cliffs Says
ZitatAlles anzeigenU.S. Steel, which earlier Sunday said it was looking at strategic alternatives, has rejected a $7.3 billion takeover offer from Clevland-Cliffs.
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Cleveland-Cliffs said it was prepared to pay $32.53 a share for Pittsburgh-based U.S. Steel, based on $17.50 per share in cash and 1.023 shares of Cleveland-Cliffs stock. That would be a 43% premium to U.S. Steel's Friday closing price and a level that would value the country's second-biggest steelmaker at around $7.26 billion.
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U.S. Steel, Cleveland-Cliffs aid, rejected the cash and shares deal as "unreasonable" in a letter sent to the group on Sunday. Cleveland-Cliffs said it "stands ready to engage on this offer immediately" despite the U.S. Steel rejection.
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saludos
