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

CEO Lourenco Goncalves said he has the funding for a US Steel (NYSE:X) potential acquisition in the $8 billion range. Goncalves declined to say which banks had committed to financing an offer, the Cliffs CEO told Semafor  in an interview published on Tuesday.

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.

Cliffs is partnering with peer Nucor to prepare a potential bid for U.S. Steel, a person familiar with the matter told Reuters on Monday. Cleveland-Cliffs would purchase U.S. Steel in an all-cash deal,

After a takeover by Japan’s Nippon Steel was blocked, a new deal may be gaining traction. The politics of Joe Biden and Donald Trump are center stage.

The company plans to make a bid to buy U.S. Steel. The decision follows President Biden’s choice to stop the existing deal with Japan-based Nippon Steel from becoming a reality. Clairton Mayor Richard Lattanzi listened closely to Goncalves’ message.