U.S. Steel has rejected Cleveland-Cliffs' initial $7.3 billion unsolicited buyout offer, citing insufficient time for due diligence and aiming to foster a competitive bidding process.
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U.S steel rejected the first unsolicited
7.3 billion dollar buyout proposal by a
company called Cleveland Cliffs U.S
deals said the proposal was unreasonable
because it believes it didn't give
enough time to do proper due diligence
to size up the proposal Adjunct
professor Laurie Barkman of cmu's Tepper
School of Business tells us just like
any other murders and Acquisitions
process if you have an unsolicited offer
just like for your house how are you
going to evaluate if that is the right
offer for you so what they're doing is
is creating a framework that creates
competition and should inherently create
more offers on the table that they can
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