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Esmark CEO says has money in bank account for $7.8 billion US Steel bid

NEW YORK (Reuters) -Esmark Inc majority owner and chief executive James Bouchard said in an interview on Tuesday that his steelmaker, which does not publicly report its earnings, has cash for its $7.8 billion bid for U.S. Steel Corp sitting in his bank account. Esmark unveiled its offer on Monday after Cleveland-Cliffs Inc, another steelmaker, said on Sunday it had made a $7.3 billion offer for U.S. Steel, which the latter rejected. Cleveland-Cliffs said it could afford the deal because it wou...
New York United States David Carnevali Josie Kao James Bouchard Cliffs Inc
Source: yahoo.com

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