On August 15th, according to Reuters, U.S. steel stocks continued to rise on Monday, after private holding company Esmark offered a $7.8 billion all-cash takeover bid for the company, higher than Cleveland-Cliffs' rejected offer. Esmark's offer for U.S. Steel was $35 per share, a 54% premium over the stock's closing price of $22.72 last Friday. A spokesperson for U.S. Steel said, "We welcome them to join the multiple participants in the strategic alternative process we announced previously." As of the U.S. market close on Monday, U.S. Steel rose 36.75%, closing at $31.070.
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