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PITTSBURGH (TNS) – This isn’t the first time potential buyers have approached U.S. Steel, the company that built American skyscrapers and railroads and made Pittsburgh a manufacturing hub for the
ArcelorMittal SA, the world’s second-largest steelmaker, is considering a potential offer for US Steel Corp, three people familiar with the matter says.
India Business News: ArcelorMittal, the world's second-largest steelmaker, is considering a potential offer for US Steel, three people familiar with the matter said on Wed.
ArcelorMittal is said to be considering a bid on US Steel, marking a reversal of its retreat from the US market as it looked to focus on markets such as India and Brazil. Sources state that ArcelorMittal is in talks with investment bankers regarding a potential offer, but that no decision has been made regarding whether to proceed.
The steelmaker's statement came after the USW said it would only back Cleveland-Cliffs as a suitor for the company. The union said "Cliffs has shown itself to be an outstanding employer to all of its workers."