US Steel Jumps as ArcelorMittal Reported to Weigh Offer

Shares in United States Steel Corp. jumped after Reuters reported that ArcelorMittal is considering an offer for the company, in what would mark a new escalation in a bidding battle.

US Steel jumped as much as 6.3%, extending this week’s gains to 42%. The company announced on Sunday it had started a strategic review after rejecting an offer from Cleveland-Cliffs Inc. for $7.25 billion. A day later, industrial group Esmark Inc. announced an all-cash offer for the company.

ArcelorMittal, the world’s second-largest steelmaker, is discussing a possible offer with its investment bankers, Reuters reported, citing people it didn’t identify. There ...