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.