Steel Giant US Steel Faces Bidding War From Industry Rivals

US Steel has received multiple takeover bids, including from Cleveland-Cliffs, Esmark, and ArcelorMittal.
The acquisition could reshape the global steel industry and unite two of the largest American steel producers.
Cleveland-Cliffs' offer was initially rejected, but it could gain majority control of domestic flat steel production if successful.
Soaring steel prices have led competitors to pursue acquisitions to cut costs and boost market share.
The United Steelworkers union has endorsed only Cleveland-Cliffs' bid citing job security concerns.