US Metal (NYSE:X) disclosed that it acquired a $54 a money and inventory bid from an unidentified social gathering earlier than it agreed to a $55 a share all money cope with Nippon Metal (OTCPK:NISTF) final month.
Unidentifid Firm D submitted t a non-binding supply to amass the entire excellent shares of US Metal (X) $27.00 in money and 1.444 shares of Firm D inventory on Dec. 11, in accordance a proxy filing with the background of the deal.
The submitting did not establish the identify of the bidder, although its implied that it was Cleveland-Cliffs (NYSE:CLF) and CNBC’s David Faber on Wednesday recognized the bidder as CLF.
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