Reported 1 day ago
Cleveland-Cliffs is teaming up with Nucor to prepare an all-cash bid for U.S. Steel, targeting a price in the high $30s per share. This follows an earlier rejected offer by Cliffs in 2023. CEO Lourenco Goncalves expressed confidence in this new proposal, highlighting potential benefits for the American market. The bid comes in the wake of political challenges faced by Nippon Steel's $14.9 billion offer for U.S. Steel, which was blocked due to national security concerns.
Source: YAHOO