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Ultimately, Cleveland-Cliffs failed to purchase U.S. Steel as the company agreed to be acquired by Japan's Nippon Steel instead for $14.9 billion. [48] In January 2025, US President Joe Biden blocked the merger. Both US Steel and Nippon sued the US government, complaining that the block was “a clear violation of due process”.
The acquisition would also include a coke-making facility and interests in three joint ventures that process flat-rolled steel products. [1] Severstal also announced at that time that it would sell a separate steel-making facility in Columbus, Mississippi to Steel Dynamics for $1.63 billion. [2] Cleveland-Cliffs acquired AK Steel Dearborn Works ...
The Inland Steel Company was an American steel company active from 1893 until its ... including the former Inland Steel assets, to Cleveland-Cliffs. [27] Facilities ...
The soon-to-be 47th commander-in-chief said he’d prefer to use tariffs to make U.S. Steel profitable again. Cleveland-Cliffs offered the company roughly $7.3 billion for a buyout in July 2023 ...
Earlier this summer the United Steelworkers union vowed to only support a proposed offer by another unionized American steel company, Cleveland Cliffs, to buy US Steel, in a cash and stock deal ...
Cleveland-Cliffs made a bid for U.S. Steel in 2023, proposing to buy the company for about $7.25 billion. Yet U.S. Steel was worried that a deal with Cleveland-Cliffs, another U.S. company, could ...
AK Steel Holdings Corporation was an American steelmaking company headquartered in West Chester Township, Ohio. The company, whose name was derived from the initials of Armco, its predecessor company, and Kawasaki Steel Corporation , was acquired by Cleveland-Cliffs in 2020.
Cleveland-Cliffs is angling for U.S. Steel after President Joe Biden blocked the company’s sale to Japan’s Nippon Steel ... Talk of a potential offer drove both U.S. Steel and Cleveland-Cliffs ...