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NEW YORK (AP) — Industrial conglomerate Esmark stated Monday it has made an all-cash supply to purchase U.S. Metal that values the enduring steelmaker at $7.8 billion, topping an earlier supply from rival Cleveland-Cliffs.
On Sunday, U.S. Metal stated it had rejected a money and inventory supply from Cleveland-Cliffs that was valued at $7.3 billion as of the shut of buying and selling Friday. U.S. Metal additionally stated it had acquired presents for all or elements of the corporate from a number of events and was evaluating its choices.