U.S. Steel and Nippon Steel sue union head over blocked $14.9B merger; Cleveland-Cliffs eyes new bid with Nucor.

U.S. Steel and Nippon Steel have sued the United Steelworkers union president and Cleveland-Cliffs, alleging they conspired to block their $14.9 billion merger. Cleveland-Cliffs is now reportedly partnering with Nucor for a potential bid to acquire U.S. Steel, following the White House's block of the Nippon Steel deal over national security concerns. Under the new deal, Cleveland-Cliffs would buy U.S. Steel for cash and sell its Big River Steel subsidiary to Nucor. U.S. Steel's headquarters would remain in Pittsburgh.

2 months ago
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