US Steel Jumps as ArcelorMittal Reported to Weigh Offer
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Shares in United States Steel Corp. jumped after Reuters reported that ArcelorMittal is considering an offer for the company, in what would mark a new escalation in a bidding battle.
US Steel jumped as much as 6.3%, extending this week’s gains to 42%. The company announced on Sunday it had started a strategic review after rejecting an offer from Cleveland-Cliffs Inc. for $7.25 billion. A day later, industrial group Esmark Inc. announced an all-cash offer for the company.