U.S. Steel’s stock soars 27% after company rejects $7.3 billion Cleveland-Cliffs offer

U.S. Steel Corp.’s stock rallied 27% Monday after the steelmaker rejected an unsolicited $7.3 billion takeover bid from Cleveland-Cliffs Inc. that would have reshaped America’s steel industry.

Cleveland-Cliffs CLF shares rose more than 3% on Monday.

The Ohio-based U.S. Steel, the largest producer of flat-rolled steel in North America and…