© Reuters. The logo of ArceloMittal is seen on a jacket at the ArcelorMittal metals plant in Dunkirk as part of a media tour dedicated to the reduction of carbon intensity of the industry in France, January 16, 2023. REUTERS/Benoit Tessier/file photo
By Bianca Flowers
(Reuters) – United Steel Workers (USW) International President Tom Conway on Wednesday called ArcelorMittal (NYSE:)’s bid consideration for U.S. Steel “foolish” and said the union wouldn’t endorse any buyers other than Cleveland-Cliffs (NYSE:).
ArcelorMittal SA (MT.LU), the world’s second-largest steelmaker, is considering a potential offer for U.S. Steel Corp Reuters reported.
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.
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