U.S. Steel Received Multiple Bids in Excess of $40 a Share

U.S. Steel has received multiple bids for the steelmaker in excess of $40 a share, sources familiar told CNBC.
In regards to the news, U.S. Steel shares rose more than 3%.

The sale process started in August when rival Cleveland-Cliffs made an unsolicited bid of $7.3 billion. U.S. Steel rejected that offer.