Steel Mills
August 14, 2023
Written by Ethan Bernard
Esmark Inc. announced on Monday a voluntary public cash and exchange offer for all issued and outstanding shares in U.S. Steel of $35 per share.
The diversified holding company and parent company of Esmark Steel Group said the initial offer period runs from Aug. 14 to Nov. 30, and may be extended. Completion of the offer is expected in Q4’23, Esmark said, subject to regulatory and antitrust clearances.
ArcelorMittal plans to build a new electrical steel manufacturing facility near its AM/NS Calvert joint-venture mill in Alabama. The steelmaker plans to produce 150,000 metric tons (165,350 short tons) of non-grain-oriented electrical steel (NOES) annually there through its wholly owned subsidiary, ArcelorMittal Calvert LLC. ArcelorMittal revealed its plans for the new mill on Monday, following the Department […]
Domestic raw steel production saw another upward bump last week, according to data released by the American Iron and Steel Institute (AISI) on Monday, Aug. 21.
The United Steelworkers (USW) union is standing firm in its backing of Cleveland-Cliffs’ bid for U.S. Steel.
U.S. Steel has provided some clarity for the United Steelworkers (USW) union regarding the union's rights as the steelmaker considers multiple offers to buy the company.
U.S. Steel dropped a bombshell last week when it announced that it is up for sale. While a company buyout would be profitable for any buyer, there could be regulatory hurdles, according to industry analysts.