The Rising Influence of Rising Affluence

[10nisman]

Instead of selling the company, might LG contemplate forming a consortium to buy it?

Good question. A LBO of CLF's with LG maintaining his interest and running the business is an option. Just not sure how someone makes that math work. I could see more of a Berkshire Hathaway like buyer whereby LG can maintain his ownership, run the business his way with the luxury of having a very strong balance sheet. In Berkshire's case, it would add another longstanding American company to its portfolio led by a strong CEO / Management team who would have significant skin-in the game. However, CLF's isn't large enough to move the needle for Berkshire, and not sure CLF's Board and equity holders would be willing to accept a Berkshire (or some similar like buyer's) offer. And I assume Warren would have concerns around pricing power / relying on tariffs, and potential long-term capital needs.

Berkshire's annual meeting is this Saturday... Maybe someone can lob in a question to Warren on his current view of the industry and / or CLF's.