New Rival Bid for US Steel Emerging as US Extends Deadline on Nippon’s Bid Blocked by Biden

HARRISBURG, Pa.—The bid by Japan’s Nippon Steel to buy U.S. Steel may have a new lease on life, even as the potential for a new bid for the storied Pittsburgh steelmaker began to emerge Monday. Lourenco Goncalves, the CEO of Ohio-based steelmaker Cleveland Cliffs, said in a news conference Monday that he wanted to make a new bid for U.S. Steel, which accepted the buyout offer from Nippon in 2023 after it rejected an offer by Cleveland-Cliffs. Goncalves declined to give financial details about the bid, but said in a news conference at a Cleveland-Cliffs plant in western Pennsylvania that it is an “all-American solution” to save U.S. Steel. He said he would relocate Cleveland-Cliffs’ headquarters to Pittsburgh, keep the U.S. Steel name and make Cleveland-Cliffs part of U.S. Steel....