Home Business Cleveland-Cliffs Moves Toward Potential U.S. Steel Takeover Amid Industry Shifts

Cleveland-Cliffs Moves Toward Potential U.S. Steel Takeover Amid Industry Shifts

by Sonia Park
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Cleveland-Cliffs Moves Toward Potential U.S. Steel Takeover Amid Industry Shifts

Cleveland-Cliffs is reportedly advancing a proposal to acquire U.S. Steel, signaling a significant shift in the American steel industry. This development follows the Biden administration's recent decision to block Japan-based Nippon Steel's attempted takeover of U.S. Steel earlier this month, citing concerns over national security and economic stability.

https://youtu.be/-KbQC0hkIgo

The proposed deal involves Cleveland-Cliffs purchasing the entirety of U.S. Steel for a cash consideration. As part of the plan, Cleveland-Cliffs intends to divest U.S. Steel's Big River Steel subsidiary, selling. . .

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