Cleveland-Cliffs shares are trading higher after US Steel rejected an acquisition offer from the company.
Portfolio Pulse from Benzinga Newsdesk
US Steel has rejected an acquisition offer from Cleveland-Cliffs, leading to a rise in Cleveland-Cliffs' shares.
August 14, 2023 | 4:20 pm
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Cleveland-Cliffs' shares are trading higher after its acquisition offer was rejected by US Steel.
The rejection of the acquisition offer by US Steel has led to a surge in Cleveland-Cliffs' shares. This could be due to the market perceiving the rejection as a positive sign for the company's standalone prospects.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100