18
Dec
20:41
Blockbuster USS sale proves sector is undervalued: Cliffs
Ohio-based steel producer Cleveland-Cliffs calls for a re-rating of the company as news that Nippon Steel is acquiring US Steel reverberates through the steel market, Kallanish reports.
In August, Cleveland-Cliffs made a bid to acquire US Steel for $7.3 billion but was rebuffed (see Kallanish passim). Nippon Steel ultimately won a competitive auction for US Steel, at a premium that was higher than the market had expected (see related story).
“We identified …
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Anonymous
Very good overview of the weekly steel market.
Anonymous