Negotiations are heating up around the potential acquisition of U.S. Steel, with key players staking out their positions. The United Steelworkers union and Nippon Steel are discussing terms that could facilitate Nippon's purchase of U.S. Steel. Meanwhile, Cleveland-Cliffs CEO Lourenco Goncalves has expressed interest in making a bid for U.S. Steel, with the condition of union support, and has specified a maximum offer of not more than $30 per share if the deal with Nippon Steel doesn't materialize. Goncalves also plans to advocate for the continuation of current tariffs on Japanese steel. Nippon Steel believes acquiring U.S. Steel would bolster 'defenses against China'. There's political interest in the deal as well, with conservatives urging the Biden administration to allow the Nippon Steel acquisition of U.S. Steel to proceed without political interference, highlighting the potential benefits for American workers and the strategic advantage against China.
SCOOP: Conservatives are urging the Biden administration to consider Nippon Steel's acquisition of U.S. Steel "without political interference." They argue that the deal would help American workers and allow Japan and the U.S. to better compete with China. https://t.co/d3HVgMloLc
$CLF $X US Steel Rival Is Ready to Pick Up the Pieces If Nippon Deal Collapses Cleveland-Cliffs Inc. Chief Executive Officer Lourenco Goncalves said heβd consider another bid β with union support β for United States Steel Corp., albeit at a significantly lower price than theβ¦
Nippon Steel says U.S. Steel acquisition would help 'defenses against China' https://t.co/pLkqEAtsvk via @NikkeiAsia
CLEVELAND-CLIFFS CEO SAYS HE WILL LOBBY FOR CONTINUATION OF CURRENT TARIFFS ON JAPANESE STEEL
Cleveland-Cliffs CEO Lourenco Gonsalves says he will consider a bid of not more than $30 per share for U.S., steel if deal with Nippon Steel falls apart #cgtnamerica
CLEVELAND-CLIFFS CEO LOURENCO GONSALVES SAYS HE WILL CONSIDER A BID OF NOT MORE THAN $30 PER SHARE FOR U.S. STEEL, IF DEAL WITH NIPPON STEEL FALLS APART
Cliffs CEO Weighs Lowball Bid For US Steel With Union Backing - @business https://t.co/JxT5Mh2fTp
Cleveland-Cliffs CEO says he'll consider another bid β with union support β for US Steel https://t.co/6HtpFiMvZH
The United Steelworkers and Nippon Steel are staking out bargaining positions for a deal that would potentially smooth the purchase of US Steel https://t.co/fQ26PvZ2IV