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Top related persons:
Milbank - 3 Lawrence Bryant - 2 Lipton - 2 Katz - 2 rebuffing - 1 steelmaker - 1 ” - 1 Lourenco Goncalves - 1
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U.S . Steel Granite Granite City , Illinois U.S steelmaker Cleveland Ohio China . U.S steelmaker North
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REUTERS - 3 Milbank LLP - 3 U.S . Steel - 2 U.S . Steel Granite City - 2 Company - 2 . Steel - 2 Barclays Capital - 2 Wachtell - 2

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5 mentions found


☆ U.S. Steel explores options after rejecting $7.3 billion offer from Cleveland-Cliffs
  + stars: | 2023-08-13 | by ( Jyoti Narayan | Akanksha Khushi | ) www.reuters.com   time to read: +3 min
(Reuters) -United States Steel Corp on Sunday launched a formal review of its strategic options, after rebuffing a takeover offer from rival steelmaker Cleveland-Cliffs Inc. FILE PHOTO: Steel workers at U.S. Steel Granite City Works in Granite City, Illinois, U.S., May 24, 2018. REUTERS/Lawrence Bryant/File PhotoThe unsolicited cash-and-stock offer from Ohio-based Cliffs values U.S. Steel at about $7.3 billion, representing a 43% premium to its closing price on Friday. Cliffs said its offer to acquire U.S. Steel had received the support of the United Steelworkers union, which is North America’s largest steel industry union. In a separate statement later Sunday, U.S. Steel confirmed it received an offer from Cliffs and other interested parties.
Persons: rebuffing, steelmaker, Lawrence Bryant, ”, Lourenco Goncalves, Davis Polk, Milbank, Lipton, Katz Organizations: Reuters, United States Steel Corp, Sunday, Cliffs, U.S . Steel, U.S . Steel Granite City, REUTERS, Steel, U.S, China . U.S . Steel, AK Steel Holding Corp, United Steelworkers, Company, UBS, Wardwell, . Steel, Barclays Capital, Goldman Sachs Group, Milbank LLP, Wachtell, Rosen Locations: steelmaker Cleveland, U.S . Steel Granite, Granite City , Illinois, U.S, Ohio, China . U.S, steelmaker, North, Wells Fargo, J.P.Morgan, Cleveland
☆ US Steel to explore strategic alternatives after unsolicited bids
  + stars: | 2023-08-13 | by ( Reuters Staff | ) www.reuters.com   time to read: +1 min
FILE PHOTO: Steel workers at U.S. Steel Granite City Works in Granite City, Illinois, U.S., May 24, 2018. REUTERS/Lawrence Bryant/File Photo(Reuters) -United States Steel said on Sunday it is initiating a formal review to evaluate strategic alternatives for the steel producer after receiving multiple unsolicited bids for part or all of its business. The review was begun after the steel producer received “multiple unsolicited proposals that ranged from the acquisition of certain production assets to consideration for the whole company,” CEO David Burritt said in a statement, without disclosing details about the strategic alternatives. Barclays Capital and Goldman Sachs are serving as financial advisors to U.S. Steel, while Milbank LLP and Wachtell, Lipton, Rosen & Katz are acting as legal advisors, the steel producer said. U.S. Steel also expects to complete about $75 million of repurchases of common stock in the second quarter under its existing $500 million stock buyback authorization.
Persons: Lawrence Bryant, David Burritt, Goldman Sachs, Milbank, Lipton, Katz Organizations: U.S . Steel, U.S . Steel Granite City, REUTERS, United States Steel, Barclays Capital, Milbank LLP, Wachtell, Rosen, . Steel Locations: U.S . Steel Granite, Granite City , Illinois, U.S
☆ US regulators unveil antitrust roadmap with Big Tech in crosshairs
  + stars: | 2023-07-19 | by ( Diane Bartz Anirban Sen | Diane Bartz | Anirban Sen | ) www.reuters.com   time to read: +4 min
The U.S. Justice Department and Federal Trade Commission (FTC) have mounted an unprecedented number of legal challenges to mergers since Biden came to office in 2021. The Justice Department lost a merger in the insurance industry but won an effort to stop a book publisher merger. Deal advisers said companies had already braced for a tough antitrust regime under Biden and some had been emboldened by the regulators' recent court losses. "The (regulators' guidelines) do provide more transparency but that transparency also reveals some concerns that they are quite hostile to consolidation. The new antitrust guidelines also reflect the White House's focus on labor issues.
Persons: Gonzalo Fuentes, Joe Biden's, Biden, Department's, Kenneth Schwartz, Flom, Fiona Schaeffer, Milbank, Elizabeth Warren, Warren, Diane Bartz, Richard Chang, Chizu Nomiyama, Daniel Wallis Organizations: Viva Technology, Porte de, REUTERS, U.S . Justice Department, Federal Trade Commission, Microsoft, Activision Blizzard Inc, FTC, Meta, Justice Department, JetBlue Airways, Spirit Airlines Inc, Amazon.com, Amazon, Flom LLP, Global, LSEG, Intelligence, Democrat, Congress, Thomson Locations: Porte, Paris, France, WASHINGTON, Skadden, Slate
☆ Georgia slot machine company enters bankruptcy to cut $500 million debt
  + stars: | 2023-06-09 | by ( Dietrich Knauth | ) www.reuters.com   time to read: +3 min
Georgia law places strict limits on slot machines, prohibiting cash winnings, and preventing locations like gas stations and convenience stores from having more than nine slot machines or deriving more than 50% of their revenue from slot machines, according to the company. Headquartered in Norcross, Georgia, Lucky Bucks operates in 345 locations throughout Georgia with approximately 2,300 slot machines. Before filing for bankruptcy, Lucky Bucks had lobbied for a Georgia law that would have protected slot machine operators from “predatory” competition. The proposed bill, which was not passed by Georgia’s legislature, would have prevented a new slot machine from being installed in the nine months following the removal of a different company's slot machine. The case is Lucky Bucks Inc, U.S. Bankruptcy Court for the District of Delaware, No.
Persons: Bucks, Georgia Lucky, Lucky Bucks, James Boyden, Lucky, Dennis Dunne, Tyson Lomazow, Russell Silberglied, Richards, Layton, Dietrich Knauth Organizations: Company, Georgia Lucky Bucks, YORK, Lucky, Bucks, Lucky Bucks, Trive, Seven Aces, Lucky Bucks Inc, Bankruptcy, District of, Milbank LLP, Diebold, Atlantic City, Thomson, & $ Locations: Georgia, Wilmington , Delaware, Norcross , Georgia, Georgia’s, District of Delaware
☆ A former MoviePass exec has been arrested and charged with wire fraud and money laundering, the third to be indicted in recent months
  + stars: | 2023-02-23 | by ( Jason Guerrasio | ) www.businessinsider.com   time to read: +4 min
A former MoviePass exec was arrested Tuesday on allegations that he embezzled $260,000 from its former parent company. Khalid Itum was charged with two counts of wire fraud and two counts of money laundering. According to the indictment, Itum, 42, registered the Los Angeles-based company Kaleidoscope Productions LLC in 2017 that provided production and marketing services. Itum was arrested by the FBI and has been charged with two counts of wire fraud and two counts of money laundering. In November, Farnsworth and Lowe were charged in a securities fraud case by the Department of Justice on one count of securities fraud and three counts of wire fraud.
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