Steel processor Esmark Inc. offered to buy United States Steel Corp. for $7.8 billion, in the first rival bid after Cleveland-Cliffs Inc. made an unsolicited offer.
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Offering $35 per share Esmark, Inc. announced today a voluntary public cash and exchange offer for all issued and outstanding shares in U.S. Steel Corporation (NYSE:X) ("U.S. Steel") for $35 USD per share. The initial