The company on Wednesday said it has dropped out of the sales process out of respect for its relationship with the United Steelworkers union, which is supporting Cleveland-Cliffs Inc. in its effort to buy the Pittsburgh steelmaker. 

“Esmark respects the position of the United Steelworkers (USW), which is supporting Cleveland-Cliffs’ offer for U. S. Steel. Esmark maintains a solid working and personal relationship with the USW organization and its leadership,” it said.  

Esmark chairman and chief executive officer James Bouchard said the company has built a relationship with the USW that goes back to its acquisition of Wheeling-Pittsburgh Steel. The union was a partner, then, he said, “and we remain close with them." 

“The U. S. Steel board must go through their process that they previously announced. We wish them the best during this process, and we will evaluate any opportunities in connection with that process, subject to support from the USW,” Bouchard said.

With Esmark having halted its effort, there is now just one publicly announced bidder, rival Cleveland-Cliffs, which is demanding that U.S. Steel disclose to it any other offers for the business. 

That demand came Tuesday, when Cleveland-Cliffs chief executive officer Lourenco Goncalves wrote to his counterpart at U. S. Steel, arguing that U. S. Steel is obligated under its labor contract to reveal such information to the company.  

You can read more about that development here and here.