PITTSBURGH (KDKA) — U.S. Steel is considering a sale after receiving multiple acquisition officers.
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The consideration of a sale comes after rejecting an unsolicited offer from rival Cleveland-Cliffs.
U.S. Steel is currently undergoing a formal review process after ‘receiving multiple unsolicited proposals’ for both specific assets and the entire firm.
There is currently no set timeline or end date for the review process.
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The 122-year-old icon of the steel mill sector has endured several challenges over the past few years including layoffs, mill closures, and an increase in competition from foreign rivals.
