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.

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

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.

Cleveland-Cliffs CEO Lourenco Goncalves said Monday he had a plan to buy U.S. Steel as he launched a tirade against Japan, calling the close U.S. ally “evil.”

(Reuters) - Cleveland-Cliffs is partnering with peer Nucor to prepare a potential bid for U.S. Steel, CNBC reported on Monday, citing sources. According to the report, Cleveland-Cliffs would purchase U.S. Steel in an all-cash deal and then sell the company's Big River Steel subsidiary to Nucor.

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.

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

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,

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’ nearly two-hour news conference Monday afternoon was called to mark five years since he acquired Butler Works and the rest of AK Steel, taking what was a sprawling steelmaking plant on the brink of closure and giving it life well into the future.

U.S. Steel and Japan’s Nippon Steel sued the United States government on Monday in a last-ditch attempt to revive their attempted merger after President Biden blocked it last week on the basis that the transaction posed a threat to national security.