ARCELORMITTAL, the world's second-largest steelmaker, is considering a potential offer for US Steel Corp, people familiar with the matter have said.
ArcelorMittal is discussing a possible offer with its investment bankers, and there is no certainty that will press ahead with it, the sources said on Wednesday (16).
If it launches a bid, it could mark the escalation of a bidding war that is already underway for US Steel, following offers from Cleveland-Cliffs Inc and Esmark Inc for more than $7 billion.
The sources requested anonymity because the deliberations are confidential.
Representatives for ArcelorMittal and US Steel did not immediately respond to requests for comment.
(Reuters)
ArcelorMittal weighs possible bid for US Steel
Cleveland-Cliffs Inc and Esmark Inc have made offers of more than $7 billion
