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Rumors that US Steel may be susceptible to a takeover permeate newswires

Thursday, 19 August 2010 01:15:54 (GMT+3) |

Shares of US Steel Corporation experienced an approximate 6 percent boost by the time the New York Stock Exchange closed on Wednesday, as rumors of a potential takeover by ArcelorMittal began making their way into the marketplace.

Although unconfirmed, it is believed that Luxemborg-based ArcelorMittal may have an interest in acquiring US Steel at US$80 per share, sparking a buying frenzy among would-be shareholders.

Neither US Steel nor ArcelorMittal have released a statement regarding the matter.

Tags: US North America Investments ArcelorMittal US Steel

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Rumors that US Steel may be susceptible to a takeover permeate newswires

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