New York
CNN
—
United States Steel Corp. (X) is considering a sale after fielding acquisition offers, according to a Sunday press release from the company.
The steel producer is under a formal review process after “receiving multiple unsolicited proposals” for both specific assets and the entire firm, the release announced.
“U. S. Steel’s Board and management team are committed to maximizing value for our stockholders, and to that end, we have commenced a comprehensive and thorough review of strategic alternatives,” wrote David Burritt, U. S. Steel’s CEO. “The Board is taking a measured approach to considering these proposals, including seeking more information in order to evaluate proposals that are preliminary and subject to ongoing due diligence and review.”
There is currently no set timeline or end date for the review process.
This is a developing story
