One analyst thinks Cleveland-Cliffs Inc. could end up acquiring United States Steel Corp. because it has one thing other bidders don’t have: A nod from the United Steelworkers.
U.S. Steel (NYSE: X) on Aug. 13 spurned the public offer by the rival steelmaker based in Cleveland of $17.50 in cash plus stock in Cliffs valued at about $7.3 billion. Esmark Founder and CEO James P. Bouchard last week made a $35-a-share offer worth about $7.8 billion , and there are other companies rumored to be making a play. ArcelorMittal (NYSE: MT) is reportedly considering a bid .
The Pittsburgh-based steelmaker hadn’t […]
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