U.S. Steel Engages in Due Diligence and Confidential Pacts with Multiple Parties

U.S. Steel has entered into confidentiality agreements with multiple third parties and is reviewing unsolicited proposals, ranging from partial acquisition to a complete buyout. The company's board and outside advisers will evaluate all options and make the review public to hear from interested parties. Cleveland-Cliffs, which made a $7.3 billion offer, has demanded information about all proposals received. U.S. Steel's shares rose 3.2% on Tuesday.