US Steel to explore strategic alternatives after declining acquisition offer

  • 📰 nbcchicago
  • ⏱ Reading Time:
  • 55 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 25%
  • Publisher: 51%

Malaysia News News

Malaysia Malaysia Latest News,Malaysia Malaysia Headlines

U.S. Steel, one of the nation’s largest steel producers and a top employer in Northwest Indiana, announced Sunday its decision to evaluate strategic alternatives after receiving unsolicited offers for specific assets, as well as the whole company. In a news release, the company said its Board of Directors will initiate a formal review process, with the assistance of financial and…

U.S. Steel, one of the nation's largest steel producers and a top employer in Northwest Indiana, announced Sunday its decision to evaluate strategic alternatives after receiving unsolicited offers for specific assets, as well as the whole company.the company said its Board of Directors will initiate a formal review process, with the assistance of financial and legal advisors.

“...This decision follows the Company receiving multiple unsolicited proposals that ranged from the acquisition of certain production assets to consideration for the whole Company," David B. Burritt, U. S. Steel’s President, Chief Executive Officer and member of the Board of Directors, stated in the news release, in part.that it previously offered to purchase U.S. Steel, but its offer"was rejected as being 'unreasonable' by the Board of Directors of U.S.

Feeling out of the loop? We'll catch you up on the Chicago news you need to know. Sign up for the weekly"As such, Cliffs feels compelled to make its offer publicly known for the direct benefit of all of U.S. Steel’s stockholders and also make it known that Cliffs stands ready to engage on this offer immediately," the company said in its ownwhich included details of its acquisition proposal. U.S.

While headquartered in Pittsburgh, U.S. Steel operates three facilities along Lake Michigan in Northwest Indiana, including Gary Works, its largest manufacturing plant. According to its

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 545. in MY

Malaysia Malaysia Latest News, Malaysia Malaysia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

U.S. Steel to explore strategic alternatives for the companySteel producer United States Steel Corporation said on Sunday it is initiating a formal review to evaluate strategic alternatives for the company.
Source: Reuters - 🏆 2. / 97 Read more »