U.S. Steel turns down $7.3B buyout offer

By Mon Valley Independent

By staff and wire reports

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. 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.

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