The U.S. Steel Corporation facility entry gate is seen in Gary, Indiana, U.S., on October 15, 2018.
Chairman David Sutherland and CEO David Burritt said in the letter that the company will start to share due diligence information.
They also said the company's board and outside advisers will fully evaluate all options and make the review public to hear from any party that may have interest in the company.
Earlier this month, Esmark scraped its bid for U.S. Steel, leaving Arcelor-Mittal as the only known potential challenger to Cleveland-Cliffs.
"While we don’t know how long the process will take, the board of directors, management team and outside advisers are moving quickly to complete it," U.S. Steel said in the letter.
Persons:
Rajesh Singh, David Sutherland, David Burritt, Esmark, Mittal, U.S . Steel, Pratyush Thakur, Maju Samuel
Organizations:
U.S . Steel Corporation, REUTERS, . Steel, U.S, Steel, United Steel Workers, U.S . Steel, Arcelor, U.S ., Thomson
Locations:
Gary , Indiana, U.S, Cleveland, Bengaluru