(Reuters) -
Canada's biggest steelmaker Stelco Holdings is pursuing a bid for U.S. Steel
Corp, adding to a growing list of suitors for the iconic American company,
Bloomberg News reported on Thursday, citing people familiar with the matter.
U.S. Steel's shares
were up 1.5% at $31.69 after the bell.
Stelco is seeking
to purchase the entire company as it looks to increase its portfolio of
steelmaking assets and boost its share of the market for supplying metal to the
automotive sector, according to the report.
The Canadian
company is in talks with a potential partner on its bid, Bloomberg News
reported.
U.S. Steel declined
to comment, while Stelco did not immediately respond to a Reuters' requests for
comment.
U.S. Steel is
locked in a spat with rival steelmaker Cleveland-Cliffs over a confidentiality
pact that would allow the latter to participate in a sale process that is
underway, Reuters reported on Wednesday.
(Reporting by
Pritam Biswas in Bengaluru; Editing by Shounak Dasgupta)