Sale will release US Steel from all claims relating to environmental, pension and other liabilities.
Terms of the MOU are confidential until the court process allows them to be made public.
…But the former Stelco is not keen on the group’s offer.
Lake Erie and Hamilton Works operations employ about 2,000 workers.
Steelworkers union and the City of Hamilton have filed a joint motion in Superior Court.
Agreement extends through March 2015 and covers 600 USW-represented workers.
Concerned about conditions attached to $185 million in temporary funding.