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.
Pittsburgh’s relationship with decline is complicated. The city lost half its population after the steel industry collapsed in the 1970s and 1980s, yet has clung to relevance as a mini-hub for medicine,
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.
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 storied Pittsburgh steelmaker began to emerge Monday
The bid by Japan's Nippon Steel to buy U.S. Steel may have a new lease on life after the Biden administration extended a deadline for the Japanese steelmaker to abandon plans to acquire the storied Pittsburgh company after President Joe Biden blocked the deal.
The city lost half its population after the steel industry collapsed in the 1970s and 1980s, yet has clung to relevance as a mini-hub for medicine, robotics, and artificial intelligence. Now, 70 years after scores of regional steelworkers quite literally fought the Japanese in World War II,
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 onetime dynamo is fighting to revive a takeover by Nippon Steel. Other tie-ups could also face obstacles, and going it alone could force cutbacks.
With the Nippon Steel purchase of U. S. Steel scuttled by presidential decree, might Cleveland-Cliffs join forces with Nucor to make an offer? Cleveland-Cliffs could target the integrated mills, and Nucor could take ownership of Big River Steel, an electric arc furnace in Arkansas .Nordroden/iStock/Getty Images Plus
Cleveland-Cliffs CEO Lourenco Goncalves said he wants to make an "all-American solution" bid to save U.S. Steel.
President-elect Donald Trump's opposition to the U.S. Steel deal with Nippon Steel undermines his claims to helping the working-class voters who elected him.
Amid the ongoing saga of its proposed $14.9 billion acquisition by Japanese steelmaking giant Nippon Steel, and with big questions looming about the future of the company’s Mon Valley operations, United States Steel Corp.