Reported 1 day ago
Cleveland-Cliffs Inc. is collaborating with Nucor Corp. to consider a joint bid for United States Steel Corp., with plans for Cleveland-Cliffs to take control of most of the company and Nucor acquiring its mini-mill assets. Cleveland-Cliffs' CEO confirmed the interest in a press event, noting they aim to adopt the US Steel name and relocate their headquarters to Pittsburgh. While shares of US Steel have risen following the news, a final decision on the bid has yet to be made.
Source: YAHOO