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U.S. Steel Reviews Unsolicited Proposals Amidst Ongoing Strategic Evaluation

Due DiligenceU.S. Steel Reviews Unsolicited Proposals Amidst Ongoing Strategic Evaluation

U.S. Steel has revealed that it has entered into confidentiality agreements with multiple third parties and is reviewing several unsolicited proposals, ranging from partial acquisitions to an entire buyout. The company’s board and outside advisers will evaluate all options and make the review public to hear from any interested parties. This move comes after Cleveland-Cliffs made a $7.3 billion cash-and-stock offer and demanded that U.S. Steel provide information about all the proposals it has received as part of its strategic review. Shares of U.S. Steel rose 3.2% on the news. Esmark recently dropped its bid for U.S. Steel, leaving Arcelor-Mittal as the only known potential challenger to Cleveland-Cliffs.

By FCCT Editorial Team

Disclaimer: The views expressed in this article are independent views solely of the author(s) expressed in their private capacity.

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