Cleveland Cliffs offers to buy unionized mills US Steel is threatening to close | CNN Business

New York CNN  — 

US Steel is threatening to shutter a number of mills if the Biden administration blocks its sale to would-be Japanese buyer Nippon Steel. But another rival, Cleveland Cliffs, is offering to buy those mills from US Steel if President Joe Biden stops the deal.

This week US Steel said it would be forced to shut down the mills represented by the United Steelworkers union if it doesn’t get the $2.7 billion in investment planned by Nippon Steel as part of its proposed $14.3 billion purchase. But the Biden administration and the USW are

→ Continue reading at CNN - Business News

More from author

Related posts

Advertisment

Latest posts

Dozens of business leaders endorse Kamala Harris for president | CNN Business

CNN  —  Dozens of business leaders are throwing their weight behind Vice President Kamala Harris, saying she is...

Trump promises to ban mortgages for undocumented immigrants | CNN Business

CNN  —  Former President Donald Trump plans to ban mortgages for undocumented immigrants, he said in a speech...

Bumblebees lose most of their sense of smell after heat waves

Heat waves don’t just make bumblebees hot. The high temperatures also seem to drastically reduce their sense of smell — with possible negative effects...