Cleveland-Cliffs (CLF) is partnering with Nucor (NUE) in a potential bid for U.S. Steel (X) after U.S. Steel’s proposed takeover by Nippon Steel (NPSCY) was blocked by the White House earlier this month, sources tell CNBC’s David Faber, reports Spencer Kimball. Cleveland-Cliffs would purchase all of U.S. Steel for all cash and then sell off the Big River Steel subsidiary to Nucor, the sources said. The offer would be in the high $30s per share, sources tell CNBC.
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Read More on X:
- Cleveland-Cliffs partnering with Nucor on possible U.S. Steel bid, CNBC says
- U.S. Steel Merger with Nippon Blocked by Executive Order
- Biden delays enforcement of order blocking Nippon-U.S. Steel deal, Reuters says
- Janet Yellen Defends Blocked Acquisition of U.S. Steel (NYSE:X) by Nippon Steel
- Cleveland-Cliffs (CLF) Remains Interested in Acquiring U.S. Steel
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