The United Steel Workers’ President Tom Conway referred to the news of ArcelorMittal’s (MT) offer for U.S. Steel (X) as “foolish,” and added that he will only support Cleveland-Cliffs’ (CLF) bid for the steel company, wrote Bianca Flowers for Reuters. a bid from ArcelorMittal “could mark the escalation of a bidding war that is already underway for U.S. Steel, following offers from Cleveland-Cliffs and Esmark for more than $7B,” noted the Reuters story.
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