This post was originally published on this site
https://i-invdn-com.investing.com/trkd-images/LYNXMPEJ7D0OP_L.jpgOn Sunday, U.S. Steel launched a formal review of strategic options, after rebuffing a takeover offer from rival steelmaker Cleveland-Cliffs (NYSE:CLF).
The unsolicited cash-and-stock offer from Ohio-based Cleveland-Cliffs valued U.S. Steel at about $7.3 billion, representing a 43% premium to its closing price on Friday.