Financial risks and uncertainties surround CLF's potential acquisition of US Steel, but share buyback program offers potential returns to investors.

There is only one Fortune 500 Company with "Cleveland" in its name. Why it matters: Maybe not for long. Driving the news: Cleveland-Cliffs CEO Lourenco Goncalves announced Monday in a rambling two-hour press conference that if a proposed acquisition of U.

U.S. Steel and Nippon Steel filed a separate lawsuit in the U.S. Court of Appeals in Washington, D.C., against the Biden administration to overturn the order and force a new review that could potentially lead to the deal. The Pittsburgh suit against Cliffs and McCall doesn't have any bearing on that decision.

If Cleveland-Cliffs is able to acquire US Steel, its CEO says the headquarters of the new entity would be in Pittsburgh, not Cleveland.

Cleveland-Cliffs CEO Lourenco Goncalves said Monday his company is ready to make another offer for U.S. Steel if its attempted merger with Japan’s Nippon Steel fails for good. “We have an all-American solution,

U.S. Steel shares jumped Monday on a report that Cleveland-Cliffs is teaming up with rival Nucor for a potential bid for the company, whose $14.1 billion buyout by Nippon Steel was recently blocked by President Joe Biden.

After a takeover by Japan’s Nippon Steel was blocked, a new deal may be gaining traction. The politics of Joe Biden and Donald Trump are center stage.

The company plans to make a bid to buy U.S. Steel. The decision follows President Biden’s choice to stop the existing deal with Japan-based Nippon Steel from becoming a reality. Clairton Mayor Richard Lattanzi listened closely to Goncalves’ message.

CEO Lourenco Goncalves said he has the funding for a US Steel (NYSE:X) potential acquisition in the $8 billion range. Goncalves declined to say which banks had committed to financing an offer, the Cliffs CEO told Semafor  in an interview published on Tuesday.