NEW YORK (Reuters) -U.S. Steel Corp is locked in a spat with rival steelmaker Cleveland-Cliffs Inc over a confidentiality pact that would allow the latter to participate in a sale process that is underway, people familiar with the matter said on Wednesday. U.S. Steel has not opened its books to Cliffs since announcing on Aug. 13 it will explore a sale, even as it accepts initial bids this week from other potential acquirers, because Cliffs will not agree to its conditions, the sources said. Cliffs has refused to sign a six-month standstill agreement that would prevent it from challenging U.S. Steel's board of directors, because it wants to keep its options open as it pursues the company, the sources said.
Cleveland-Cliffs Clashes With U S Steel as Sale Process Gets Underway -Sources
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Cleveland-Cliffs clashes with US Steel as sale process gets underway
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