Deals
U.S. Steel Canada Said to Draw Interest From ERP, Other Suitors
- Offers for bankrupt Canadian steel operations due Feb. 29
- Steel assets in Hamilton and Nanticoke valued at $1.5 billion
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U.S. Steel Canada Inc., the former unit of U.S. Steel Corp. under creditor protection since 2014, has drawn interest from ERP Compliant Fuels and Essar Steel Algoma Inc., people with knowledge of the matter said.
ERP Compliant has submitted a bid for the steel operations in Hamilton and Nanticoke, Ontario, and Essar Steel and several others are expected to submit offers by the Feb. 29 deadline, said the people, who asked not to be identified because the information is private. The assets are valued at about $1.5 billion, including debt, the people said.