U.S. Steel confirms multiple acquisition proposals

Aug 29 (Reuters) - U.S. Steel has entered intoconfidentiality agreements with "numerous third parties" andstarted to review multiple unsolicited proposals ranging frompartial acquisition to an entire buyout, the company said in aletter to its stockholders on Tuesday.

Cleveland-Cliffs, which has made a $7.3 billioncash-and-stock offer, last week demanded U.S. Steel to providethe company and the United Steel Workers (USW) union withinformation about all the proposals it has received so far as apart of its strategic review.

Earlier this month, Esmark scraped its bid for U.S. Steel,leaving Arcelor-Mittal as the only known potential challenger toCleveland-Cliffs.

"While we don't know how long the process will take, theboard of directors, management team and outside advisers aremoving quickly to complete it," U.S. Steel said in the letter.(Reporting by Pratyush Thakur in Bengaluru; Editing by MajuSamuel)