US Steel Draws Interest From Small Canadian Rival It Once Owned
- Stelco seeks to acquire iconic US steelmaker with a partner
- Suitor is the successor to US Steel’s assets in Canada
Stelco, whose sales and market value are dwarfed by US Steel, seeks to buy the Pittsburgh-based producer to increase its steelmaking assets and boost its share of the market for supplying metal to the automotive industry, according to people familiar with the matter. US Steel shipped six times more steel than Stelco last year and has a market value almost five times larger than the Canadian firm it once owned.