U.S. Steel has turned down a $7.3 billion buyout bid from Cleveland Cliffs.

<div class="block">U.S. Steel has turned down a $7.3 billion buyout bid from Cleveland Cliffs.</div>

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U.S. Steel Rejects Cleveland Cliffs Offer

US Steel Corporation has turned down a $7.3 billion buyout bid from Cleveland Cliffs signing an inability to conduct thorough due diligence. The offer disclosed earlier by Cleveland Cliffs was valued at $35 a share notably higher than the US steel's closing stock price of 22 72 last Friday US deal. Ceo David Burr said in a letter released yesterday at this juncture, we cannot determine whether your unsolicited proposal properly reflects the full and fair value of the company. And quote. In an earlier statement, Burritt revealed the company has received multiple unsolicited offers prompting a deeper review of potential strategic paths.