# Cleveland-Cliffs proposes to acquire U.S. Steel for $35 per share

Cleveland-Cliffs publicly announced a proposal to acquire 100% of U.S. Steel for $35.00 per share, a 43% premium, after the offer was rejected by U.S. Steel's board. The USW endorsed the transaction.

- Type: Acquisition
- Announced: 2023-08-13
- Where: United States
- Value: $7.80B
- Status: announced
- Products: steel
- Sectors: [Steel and Metal Products](https://endata.com/sectors/steel-metal-products.md)

## Companies

- [United States Steel Corporation](https://endata.com/companies/15282.md) (target)
- [U.S. Steel](https://endata.com/companies/15752.md) (target)
- [Cleveland-Cliffs](https://endata.com/companies/27377.md) (acquirer)
- [Cleveland-Cliffs](https://endata.com/companies/27377.md) (partner)
- [Esmark](https://endata.com/companies/72320.md) (partner)

## Sources

- [clevelandcliffs.com](https://www.clevelandcliffs.com/news/news-releases/detail/600/cleveland-cliffs-proposes-to-acquire-u-s-steel), 2023-08-13: "Cleveland-Cliffs is publicly announcing a previously private offer that it had presented to the Board of the United States Steel Corporation on July 28, 2023."
- [wnewsj.com](https://www.wnewsj.com/2023/08/29/the-122-year-old-us-steel-is-reviewing-numerous-buyout-offers/), 2023-08-29: "Our number one obligation is to uphold our fiduciary duties."

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.