Publicly traded United States Steel Corporation said it has launched a strategic review to consider selling all or part of the company.
U.S. Steel at about $7.3 billion, significantly higher than the $5 billion valuation reflected Friday.
After U.S. Steel called the unsolicited offer"unreasonable," Cliffs went public with its proposal and said it"stands ready to engage on this offer immediately." U.S. Steel reported its fifth consecutive quarter of profit declines and fourth of falling revenue in July with second quarter net earnings of $477 million, but President and CEO David Burritt
the company was “extremely well positioned for what we believe will be the best American steel market in a generation.”Cleveland-Cliffs Northshore Mining says their iron ore pellets are environmentally friendly on aKey Background U.S. Steel was founded when J. P. Morgan financed the merger of steel companies owned by Andrew Carnegie, Elbery Gary and William Henry Moore in 1901. Charles M. Schwab was the first president of the company, which was once the largest steel producer in the world and was the first billion-dollar corporation. Today, U.S. Steel
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