United Steel Workers (USW) International President Tom Conway on Wednesday called ArcelorMittal's bid consideration for U.S. Steel (X.N) "foolish" and said the union wouldn't endorse any buyers other than Cleveland-Cliffs (CLF.N).
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.
