American industrial icon US Steel is on the verge of being absorbed as industry consolidates further
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August 16, 2023
With two bidders revealed in a matter of days and more in the wings, United States Steel Corp. — a symbol of American industrialization that for more than a century helped build everything from the United Nations building in New York City to the New Orleans Superdome — appears be on the cusp of being absorbed.
Here's what's happened so far, and how the acquisition of U.S. Steel could reshape steelmaking globally.
BIDDING WAR
After rejecting a $7.3 billion buyout proposal from rival Cleveland-Cliffs on Sunday, U.S. Steel said it was considering its next move. On Monday, industrial conglomerate...
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