United States Steel Corp. said Sunday that it rejected a $7.3 billion buyout proposal from rival Cleveland Cliffs and was reviewing “strategic alternatives” after receiving several unsolicited offers.
A water tower at United States Steel Corp.'s Edgar Thomson Plant in Braddock, Pa., is seen, May 7, 2020.
Pittsburgh-based U.S. Steel said it rejected the offer because Cleveland-Cliffs was pushing it to accept the terms without being allowed to conduct proper due diligence.“At this juncture, we cannot determine whether your unsolicited proposal properly reflects the full and fair value of the Company. For all of the above reasons, the Board has no choice but to reject your unreasonable proposal,” U.S.
Burritt said the offers are “a validation of U.S. Steel’s strategy” of transformation, including expanding its electric arc furnace steelmaking and finishing capabilities.
Brasil Últimas Notícias, Brasil Manchetes
Similar News:Você também pode ler notícias semelhantes a esta que coletamos de outras fontes de notícias.
US Steel rejects a $7.3 billion offer from rival Cleveland-Cliffs; considers alternativesUnited States Steel Corp. said Sunday that it rejected a $7.3 billion buyout proposal from rival Cleveland Cliffs and was reviewing “strategic alternatives” after receiving several unsolicited offers
Consulte Mais informação »
U.S. Steel rejects a $7.3 billion offer from rival Cleveland-Cliffs; considers alternativesUnited States Steel said Sunday that it rejected a $7.3 billion buyout proposal from rival Cleveland Cliffs and was reviewing “strategic alternatives.”
Consulte Mais informação »
U.S. Steel Rejects Offer From Cleveland-CliffsU.S. Steel rejected an unsolicited offer from rival Cleveland-Cliffs, stopping for now a deal that would significantly reshape the domestic steel industry
Consulte Mais informação »
US Steel rejects $7.3 billion buyout offer from Cleveland-CliffsU.S. Steel Corp. declined a $7.3 billion acquisition offer from rival steelmaker Cleveland-Cliffs Inc. and launched a formal review of its strategic options.
Consulte Mais informação »
U.S. Steel Shares Jump 25% After Rejecting $7.3 Billion Buyout Offer From Cleveland-CliffsPublicly traded United States Steel Corporation said it has launched a strategic review to consider selling all or part of the company.
Consulte Mais informação »
U.S. Steel rejects $7.3 billion bid from Cleveland-Cliffs as it seeks 'strategic alternatives'Cliffs said the offer was rejected Sunday by U.S. Steel's board, which called it "unreasonable."
Consulte Mais informação »