In the wake of President Joe Biden blocking Nippon Steel's bid to buy U.S. Steel, Cleveland-Cliffs has renewed its offer to become the new owner of the once-mighty steel giant.

"I have a plan, I have an all-American solution in place. The all-American solution centers on people, on workers," said Cleveland-Cliffs CEO Lourenco Goncalves.

The move by Cleveland-Cliffs comes after the Biden administration blocked the U.S. Steel-Nippon tie-up on national security grounds.

The CEO of American-owned and operated Cleveland Cliffs says he’s putting in a bid to buy U.S. Steel. He says it’s not a matter of if, but rather when.

Citing national security concerns and following an expansive but divided Treasury Department review, President Joe Biden recently decided to deny the $14 billion purchase of U.S. Steel Corp. by the Japanese firm Nippon Steel. The decision is final, at least for now, but both companies have already brought suit to overturn it.

Nippon's offer to buy USS was $14 billion while, according to Cliff CEO Lourenco Goncalves, Cliffs' final bid was $13.8 billion. Before Biden killed the Nippon deal, a bipartisan group, including incoming President Donald Trump, also opposed the deal.

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.

keep the U.S. Steel name and make Cleveland-Cliffs part of U.S. Steel. Over the weekend, the Biden administration extended a deadline for the Japanese steelmaker to abandon plans to acquire U.S. Steel after President Joe Biden blocked the deal. The new ...

wrote just this week that a press conference meant to spur support for Cleveland-Cliffs actually “further underscored the imprudence of President Joe Biden’s move to nix Tokyo-based Nippon ...

President Joe Biden on Jan. 3, 2025, issued a blocking order (the Order) addressing the proposed acquisition of United States Steel Corporation

An Ohio-based company won’t give up on its quest to merge with U.S. Steel. According to multiple media outlets, Cleveland-Cliffs wants to buy the iconic company with the help of North Carolina’s Nucor Steel.

The Wall Street Journal says an activist investor plans to mobilize US Steel shareholders to reject a takeover by Japan's Nippon Steel.