Just days after learning that Cleveland Cliffs made an offer to buy out U.S. Steel, the Pittsburgh-based steelmaker saw stocks soar.
At closing bell yesterday, the price for U.S. Steel rose nearly 40 percent; that works out to almost $2 billion in market capitalization.
U.S. Steel officials say they are looking at their strategy in the wake of the offer from Cleveland Cliffs, which was to purchase the company for over $7 billion.
