Cleveland-Cliffs is reportedly involved in a potential bid for U.S. Steel. The news comes after the White House blocked Japan’s Nippon Steel takeover deal January third, citing national security concerns. CNBC reports Cleveland Cliffs would purchase all of U.S. Steel for cash and then sell off the Big River Steel subsidiary to rival Nucor. Meanwhile, the Biden administration has delayed its enforcement of the order blocking the Nippon-U.S. Steel merger until mid-June after both companies filed a lawsuit.
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