A bizarre press conference held this Monday by Lourenco Goncalves, CEO of Ohio-based steelmaker Cleveland Cliffs, further underscored the imprudence of President Joe Biden’s move to nix Tokyo-based Nippon Steel’s acquisition of U.

US Steel and Nippon, whose $14.3 billion merger was blocked by President Joe Biden last week, filed a lawsuit against the US government Monday, claiming Biden’s executive order to bar the companies from combining was signed for “purely political reasons.

Cleveland-Cliffs Inc. CEO Lourenco Goncalves repeatedly predicted President Joe Biden would block Nippon Steel Corp.'s proposed $14.9 billion acquisition of United States Steel Corp. months before it happened,

In dual lawsuits filed Jan. 6, U.S. Steel Corp. and Nippon Steel Corp. blame the Biden administration's politicizing its national-security review as well as the behind-the-scenes actions by rival Cleveland-Cliffs Inc. and United Steelworkers International President David McCall for scuttling the $14.9 billion deal.

He said he would relocate Cleveland-Cliffs’ headquarters to Pittsburgh ... to abandon plans to acquire U.S. Steel after President Joe Biden blocked the deal. The new deadline, now in mid ...

President Biden blocked the deal between Nippon and U.S. Steel earlier this month due to "national security" concerns.

Japan Prime Minister Shigeru Ishiba asked U.S. President Joe Biden to allay concerns in the Japanese and U.S. business communities over the status of Nippon Steel’s 5401.T planned acquisition of U.S.

Nippon's offer to buy USS was $14 billion while, according to Cliff CEO Lourenco Goncalves, Cliffs' final bid was $13.8 billion. Before Biden killed the Nippon deal, a bipartisan group, including incoming President Donald Trump, also opposed the deal.

Citing national security concerns and following an expansive but divided Treasury Department review, President Joe Biden recently decided to deny the $14 billion purchase of U.S. Steel Corp. by the Japanese firm Nippon Steel. The decision is final, at least for now, but both companies have already brought suit to overturn it.

Lourenco Goncalves, CEO of steelmaker Cleveland-Cliffs, which made a failed $7 billion bid for US Steel in August 2023, participated in at least nine calls assuring investors that President Joe Biden would scuttle the Nippon Steel merger months before he ...

Cleveland-Cliffs CEO Lourenco Goncalves said he wants to make an "all-American solution" bid to save U.S. Steel.