Reuters reported that the group of shareholders that control Brazilian steelmaker Usiminas have received no formal bid for their stakes in the company.

Usiminas has been at the center of speculation over a possible sale to smaller rival CSN for the past year.

The controlling bloc is comprised of Nippon Steel Corporation, local industrial conglomerates Camargo Correa and Grupo Votorantim and employee pension fund Caixa de Empregados de Usiminas.

(Sourced from www.reuters.com)