Why Cleveland-Cliffs made its $7B+ bid for U.S. Steel

On paper, Cleveland-Cliffs Inc. and United States Steel Corp. look similar: Both are steel producers, one headquartered in Ohio, the other in Pittsburgh. One bills itself as the largest flat-rolled steel company on the continent; the other is a big player in the steel industry since the days of Andrew Carnegie that’s in the midst of transforming itself into a much greener powerhouse. And Cleveland-Cliffs and U.S. Steel have similar operations in every aspect of the steel business. Both rode out the downturn in the steel industry in the mid-2010s, and both have emerged to a revival of domestic manufacturing and domestic steelmaking.

And that’s just what Cleveland-Cliffs is counting on if it’s successful in its $7.3 billion bid to acquire U.S. Steel.

Why Cleveland-Cliffs made its $7B+ bid for U.S. Steel

Most Read

11 Investigates: Red light cameras coming to Pittsburgh

Man attacked, shot at outside of Ingram home

Presents meant for 2-year-old boy stolen off front porch in Ambridge

11 Investigates: It’s official, retired Pittsburgh police chief doubles pension

Former local postal worker pleads guilty to stealing $6M worth of checks in the mail