(Bloomberg) — U.S. Steel Corp. is doing everything it can to weather the economic downturn caused by the coronavirus pandemic, including a share offering announced late Wednesday.The company offered 50 million shares — almost a third of the current number outstanding — at a level said to be about $8.58 to $8.80 per share. After closing at $9.38 in New York, shares were down 5.5% in after-market trading.The Pittsburgh-based steelmaker faces a historic decline in demand, announcing earlier Wednesday that it expects deeper losses in the second quarter than analysts forecast. At the same time, U.S. Steel is working toward …read more
Source:: Yahoo Finance
