Cleveland-Cliffs (CLF) Chief Executive Officer Lourenco Goncalves told Bloomberg in an interview that he would consider another bid, with support of the USW union, for United States Steel (X), but at a significantly lower price than the existing offer from Nippon Steel (NPSCY), if that deal were to fail. Nippon’s proposal is to buy the company for $55 per share in cash, but if given the opportunity, Goncalves would consider a bid “in the $30s,” he said in the interview Thursday with the newservice.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See the top stocks recommended by analysts >>
Read More on CLF:
- Tesla downgraded, Southwest upgraded: Wall Street’s top analyst calls
- Cleveland-Cliffs downgraded to Neutral from Buy at Citi
- Cleveland-Cliffs announces price increases
- Cleveland-Cliffs, USW comment on tin mill products case report by ITC
- Cleveland-Cliffs downgraded to Underperform from Neutral at Exane BNP Paribas