Financial risks and uncertainties surround CLF's potential acquisition of US Steel, but share buyback program offers potential returns to investors.

Cleveland-Cliffs is partnering with peer Nucor to prepare a potential all-cash bid for U.S. Steel, with an offer in the high $30s per share, a person familiar with the matter said on Monday. Cliffs is aiming to purchase all of U.

If Cleveland-Cliffs is able to acquire US Steel, its CEO says the headquarters of the new entity would be in Pittsburgh, not Cleveland.

The move by Cleveland-Cliffs comes after the Biden administration blocked the U.S. Steel-Nippon tie-up on national security grounds.

Cleveland-Cliffs CEO Lourenco Goncalves said Monday he had a plan to buy U.S. Steel as he launched a tirade against Japan, calling the close U.S. ally “evil.”

"I already initiated my investigation on how to import dogs from Japan," Cleveland-Cliffs CEO Goncalves said. "I'll go after him personally and I'll take his last penny, his house, his car and his dog.

Cleveland-Cliffs Inc. is partnering with Nucor Corp. to weigh a potential joint bid for United States Steel Corp., according to a person familiar with the matter.

Cleveland-Cliffs CEO Lourenco Goncalves said Monday his company is ready to make another offer for U.S. Steel if its attempted merger with Japan’s Nippon Steel fails for good. “We have an all-American solution,

U.S. Steel shares jumped Monday on a report that Cleveland-Cliffs is teaming up with rival Nucor for a potential bid for the company, whose $14.1 billion buyout by Nippon Steel was recently blocked by President Joe Biden.

There is only one Fortune 500 Company with "Cleveland" in its name. Why it matters: Maybe not for long. Driving the news: Cleveland-Cliffs CEO Lourenco Goncalves announced Monday in a rambling two-hour press conference that if a proposed acquisition of U.