US Steel Received Multiple Bids at Over $40/Share, CNBC Says (1)

United States Steel Corp., the iconic American steelmaker that’s exploring a sale, received multiple bids in excess of $40 a share, CNBC reported.

US Steel’s board is meeting Wednesday, CNBC said, citing people it didn’t identify. The bids would be higher than the $35 per share cash-and-stock offer that rival Cleveland-Cliffs Inc. made public four months ago, when US Steel first said it would begin a strategic review of its business.

The American steel industry and investors have waited months for the potential sale of all or parts of US Steel, since such a deal would have major impacts ...