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

The company’s renewed interest comes after the Biden administration blocked Nippon Steel from acquiring the onetime American powerhouse.

Cleveland-Cliffs is partnering with peer Nucor to prepare a potential all-cash bid for U.S. Steel, with an offer in the high $30s per share, a person familiar with the matter said on Monday. Cliffs is aiming to purchase all of U.

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.

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,

Lourenco Goncalves, the CEO of Ohio-based steelmaker Cleveland Cliffs, said in a news conference Monday, Jan. 13, 2025, that he wanted to make a new bid for U.S. Steel, which accepted the buyout offer from Nippon in 2023 after it rejected an offer by Cleveland-Cliffs.

Cleveland-Cliffs began the U.S. Steel saga in mid-2023 by making an unsolicited bid for the company, which was endorsed by McCall on behalf of the steelworkers union. The U.S. Steel board ...

There’s renewed uncertainty over U.S. Steel’s future after President Biden decided to block Nippon Steel’s acquisition bid, worth over $14 billion, citing national security.

Earlier this month, President Joe Biden blocked the $14.9 billion deal, and now Cleveland-Cliffs is expressing interest in buying U.S. Steel. Cleveland-Cliffs CEO Lourenco Goncalves called Japan ...

The bid by Japan’s Nippon Steel to buy U.S. Steel may have a new lease on life, even as the potential for a new bid for the

U.S. Steel ( X 0.41%) has been in the news for months since Japan's Nippon Steel made a generous offer for the iconic American steelmaker. Nippon's $14.9 billion bid in late 2023 represented a nearly 40% premium to U.S. Steel's share price at the time.