Lourenco Goncalves, CEO of Cleveland-Cliffs, called Japan, the home of rival steelmaker Nippon Steel, ”evil” in a press conference on Monday, as the U.S. company prepares a new bid for U.S. Steel.
There’s renewed uncertainty over U.S. Steel’s future after President Biden decided to block Nippon Steel’s acquisition bid, worth over $14 billion, citing national security. Cleveland-Cliffs, which tried and failed to acquire U.S. Steel in 2023, now sees a new opening to take over the century-old company.
