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Cleveland-Cliffs CEO says Nippon-US Steel deal has 'zero chance' of US approval
Nippon Steel's deal to buy U.S. Steel has "zero chance" of winning government approval amid continued opposition from the United Steel Workers union and "needs to be unraveled," the CEO of rival suitor Cleveland-Cliffs said on Tuesday. Lourenco Goncalves told reporters at the American Iron and Steel Institute's annual meeting that his bid had the full support of the U.S. government, President Joe Biden, a Democrat who wants U.S. Steel to remain American owned, and Republican presidential candidate Donald Trump. "It would be a silly movement to wait for the election in the hopes that a different outcome would ... (full story)