Bidding war is onIn the end, this will show how cheap Stelco is presently valued
Aug 16 (Reuters) - ArcelorMittal SA (MT.LU), the world's second-largest steelmaker, is considering a potential offer for U.S. Steel Corp (X.N), three people familiar with the matter said on Wednesday.
ArcelorMittal is discussing a possible offer with its investment bankers, and there is no certainty that it will press ahead with it, the sources said.
If it does launch a bid, it could mark the escalation of a bidding war that is already underway for U.S. Steel, following offers from Cleveland-Cliffs Inc (CLF.N) and Esmark Inc for more than $7 billion.