Don Hauser and Lisa Reisman

Steel Industry Disruption: Cleveland-Cliffs’ Jaw-Dropping Bid to Acquire US Steel Makes Waves

Steel Industry Disruption: Cleveland-Cliffs’ Jaw-Dropping Bid to Acquire US Steel Makes Waves Screenshot-2023-08-14-at-11.23.00-AM

Late Sunday night, the Wall Street Journal reported that U.S. Steel had rejected an unsolicited offer from Cleveland-Cliffs for the company, valuing it at $7 billion. According to the report, Cliffs offered $17.50/share in cash plus 1,023 shares of Cliffs stock. U.S. Steel promptly rejected the offer and indicated that it would seek alternative proposals. […]

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