US Steel may bid for Stelco Inc
According to the statement released by US Steel, the company is considering submitting a bid for Canadian steel producer Stelco Inc, which is currently under bankruptcy protection. If US Steel decides to submit a bid for Stelco, it will have to compete with other bidders Russian Severstal, GMP Capital and GE Capital Canada. US Steel officials will participate in the court today when Stelco will attempt to get a bailout plan with Deutsche Bank. If the amended financing plan between Stelco and Deutsche Bank gets court approval, the other bidders may have to increase their bids.