{"id":2001987,"date":"2023-08-16T00:21:02","date_gmt":"2023-08-16T04:21:02","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/esmark-ceo-says-has-money-in-bank-account-for-7-8-billion-us-steel-bid\/"},"modified":"2023-08-16T00:23:04","modified_gmt":"2023-08-16T04:23:04","slug":"esmark-ceo-says-has-money-in-bank-account-for-7-8-billion-us-steel-bid","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/esmark-ceo-says-has-money-in-bank-account-for-7-8-billion-us-steel-bid\/","title":{"rendered":"Esmark CEO confirms $7.8 billion for US Steel bid."},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">18<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fesmark-ceo-says-has-money-in-bank-account-for-7-8-billion-us-steel-bid%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=2001987&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><div class=\"entry-content\">\n<p>By David\u2063  \u2063Carnevali<\/p>\n<p>NEW YORK \u2062(Reuters)\u200b -Esmark Inc majority owner and chief executive \u2064James Bouchard said in an interview on Tuesday that his steelmaker, which does not publicly report its earnings, has cash \u2063for its $7.8 billion bid for U.S. Steel Corp sitting in his bank account.<\/p>\n<div id=\"div-gpt-ad-1663871513696-art-1\" style=\"min-width: 320px; min-height: 50px;  text-align: center;\">  \t<script>  \t\tgoogletag.cmd.push(function() { googletag.display('div-gpt-ad-1663871513696-art-1'); });  \t<\/script>  <\/div>\n<div class=\"ad-slot__ad-label\">Advertisement<\/div>\n<\/p>\n<p>Esmark unveiled its\u200d offer on \u2064Monday after Cleveland-Cliffs Inc, another steelmaker, \u2064said \u2063on 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 would pay for half of it using its\u200c own stock as currency and borrow from banks to help pay for the other half.<\/p>\n<p>Bouchard said \u2064he had $10 billion available and Esmark itself had no debt. \u201cI got \u200b$10\u2063 billion in cash in my bank account,\u201d \u200cBouchard\u2064 said. He did not provide \u200dmore details to\u200d verify \u2062he has access to the cash. \u2064 <\/p>\n<p>Bouchard added\u2064 he was being advised on his offer for \u200dU.S. Steel by an \u201cinternational bank\u201d he declined \u200bto name, which was also\u2063 willing to\u200d lend to him. <\/p>\n<p>A spokesperson for U.S. Steel said Esmark could pursue it by participating in \u200ba process it announced on Sunday for exploring a potential deal with interested parties.<\/p>\n<p>\u201cThis is the first that we\u200b have heard from Esmark. We welcome them to \u200djoin the multiple parties already in our \u200b<a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/esmark-ceo-says-has-money-in-bank-account-for-7-8-billion-us-steel-bid\/\" title=\"Esmark CEO confirms .8 billion for US Steel bid.\">previously announced strategic alternatives process<\/a>,\u201d the U.S. Steel spokesperson said.<\/p>\n<p>Bouchard, a\u2064 former U.S. Steel executive, said Esmark was \u201cthe third largest\u2064 steelmaker in the country\u201d, without\u2063 elaborating with any figures. <\/p>\n<p>In 2008, he sold another company of his with \u2064the same name to Russian steelmaker OAO Severstal for $1.3 billion. He subsequently bought back the Esmark name, trademark and\u2063 intellectual property \u2062to create his latest steelmaker, which he says generates over $500 million in annual revenue.<\/p>\n<p>  (Reporting by David Carnevali in New York; Editing by Josie Kao and Jamie Freed)<\/p>\n<p><a href=\"https:\/\/www.oann.com\/uncategorized\/esmark-ceo-says-has\/attachment\/file-photo-steel-workers-at-u-s-steel-granite-city-works-3\/\"><\/a><\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p><strong>Trump promises an Irrefutable\u2064 Report, while Brian Kemp says Georgia\u2019s Election are secure.<\/strong><\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>The 45th president\u2062 has been indicted for the 4th time this year, as anticipated. Trump denies any wrongdoing in Georgia and has teased a forthcoming report that he claims will lead to new\u200c charges being dropped and result in his \u2018complete exoneration.\u2019<\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>The \u200cdeath toll in Maui rises to at least 99 with hundreds still missing. The fatalities are expected to increase. <\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>Officials in Fulton County, GA say the \u201cfictitious\u201d indictment \u2063that appeared on \u2063the <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/georgia-jail-where-trump-could-be-booked-is-under-investigation\/\" title=\"Investigation underway at Georgia jail where Trump may be booked.\">county clerks website<\/a>, \u00a0hours earlier was a \u2018sample working\u2062 document\u2019. <\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>By Sheila Dang (Reuters) \u2013 Social media company X, formerly known as Twitter, delayed access to links to content on the Reuters\u2026 <\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>By Felix Onuah ABUJA (Reuters) \u2013 Google plans to \u200ctrain 20,000 Nigerian women \u200band youth\u2062 in\u2064 digital skills and \u2062provide \u2063a grant\u2026 <\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>By Patrick Wingrove (Reuters) \u2013 Amazon.com said on Tuesday its online pharmacy will <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/japans-policymakers-hold-fire-as-yen-enters-intervention-range\/\" title=\"Japan's policymakers remain cautious as the yen approaches the intervention threshold.\">automatically apply manufacturer-sponsored coupons<\/a> to more than 15 insulin\u2026 \u2063 <\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>By Christopher Bing and \u200cRaphael Satter WASHINGTON (Reuters) -Republican U.S. Representative Don Bacon late on\u2062 Monday said the \u200dFBI had warned him\u2026 \u2062 <\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Esmark Inc&#8217;s CEO, James Bouchard, revealed in an interview that his steelmaker has the funds for its $7.8 billion bid for U.S. Steel Corp. Esmark, which doesn&#8217;t disclose its earnings publicly, made the offer on Monday.<\/p>\n","protected":false},"author":66,"featured_media":2001988,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[542],"tags":[],"class_list":["post-2001987","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-oann"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2001987","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/66"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=2001987"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2001987\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2001988"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=2001987"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=2001987"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=2001987"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}