Cleveland-Cliffs eyeing all-cash bid for U.S. Steel, source says By Reuters
Written by Emily J. Thompson, Senior Investment Analyst
Source: Investing.com
Cleveland-Cliffs and Nucor's Bid for U.S. Steel: Cleveland-Cliffs is preparing an all-cash bid for U.S. Steel, aiming to purchase the company and subsequently sell its Big River Steel mill to Nucor, with a proposed offer in the high $30s per share.
Political and Competitive Landscape: The bid comes amid political tensions surrounding a previous $14.9 billion offer from Japan's Nippon Steel, which was blocked by President Biden due to national security concerns, leading to lawsuits from both Nippon Steel and U.S. Steel against Cliffs and Goncalves.
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Analyst Views on CLF
Wall Street analysts forecast CLF stock price to fall over the next 12 months. According to Wall Street analysts, the average 1-year price target for CLF is 12.78 USD with a low forecast of 5.75 USD and a high forecast of 17.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
9 Analyst Rating
2 Buy
5 Hold
2 Sell
Hold
Current: 14.210
Low
5.75
Averages
12.78
High
17.00
Current: 14.210
Low
5.75
Averages
12.78
High
17.00
About CLF
Cleveland-Cliffs Inc. is a steel producer with a focus on value-added sheet products, particularly for the automotive industry in North America. The Company is vertically integrated from the mining of iron ore, production of pellets and direct reduced iron, and processing of ferrous scrap through primary steelmaking and downstream finishing, stamping, tooling, and tubing. Its offering includes advanced high-strength steel, hot-dipped galvanized, aluminized, galvalume, electrogalvanized, galvanneal, hot-rolled coil (HRC), cold-rolled coil, plate, grain oriented electrical steel (GOES), non-oriented electrical steel (NOES), stainless steels, tool and die, stamped components, rail, slab and cast ingot. Its Other Businesses primarily include the Tubular and Tooling and Stamping segments that provide customer solutions with carbon and stainless steel tubing products, advanced-engineered solutions, tool design and build, hot- and cold-stamped steel components and complex assemblies.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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