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

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.

Steelmaker Cleveland-Cliffs on Monday indicated interest in acquiring U.S. Steel, less than two weeks after President Joe Biden blocked Japan-based Nippon Steel’s bid to buy the embattled ...

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.

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.

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 ...

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 ...

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.

The Pittsburgh suit is playing out at the same time as another lawsuit in D.C. on the president's block of the deal.

Cleveland-Cliffs CEO Lourenco Goncalves said he wants to make an "all-American solution" bid to save U.S. Steel.

This is a developing story. Check back for updates. Cleveland Cliffs is partnering with rival Nucor in a potential bid for U.S. Steel, whose takeover by Japan’s Nippon Steel was just blocked by the White House earlier this month,