By Alexandra Alper WASHINGTON (Reuters) –     Even as Nippon Steel faced skepticism of its doomed $14.9 billion bid for U.S. Steel from the Biden administration, it was also contending with headwinds from an unlikely source: the CEO of a rival bidder for the firm who repeatedly cast doubt on the deal’s prospects to investors.      Lourenco Goncalves, CEO of steelmaker Cleveland-Cliffs, which made a failed $7 billion bid for U.S. Steel in August …

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Exclusive: Rival CEO spread doubt about Nippon Steel deal prospects, documents allege

The CEO of Cleveland-Cliffs, which made a $7 billion bid for U.S. Steel in 2023, participated in at least nine calls assuring investors that President Biden would scuttle the deal.

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Lourenco Goncalves, CEO of steelmaker Cleveland-Cliffs, which made a failed $7 billion bid for US Steel in August 2023, participated in at least nine calls assuring investors that President Joe Biden would scuttle the Nippon Steel merger.

Nippon Steel’s doomed $15B deal with Biden administration had unlikely opposition – a rival CEO: bombshell docs

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WASHINGTON : Even as Nippon Steel faced skepticism of its doomed $14.9 billion bid for U.S. Steel from the Biden administration, it was also contending with headwinds from an unlikely source: the CEO of a rival bidder for the firm who repeatedly cast doubt on the deal's prospects to investors.     Lou

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Exclusive-Rival CEO spread doubt about Nippon Steel deal prospects to Wall Street, documents allege

Cleveland-Cliffs CEO Goncalves assured investors that President Biden would scuttle the Nippon Steel merger with U.S. Steel months before he did so.

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Rival CEO spread doubt about Nippon Steel deal prospects to Wall Street, documents allege

Cleveland-Cliffs Inc. (NYSE:CLF) CEO Lourenco Goncalves repeatedly predicted President Joe Biden would block Nippon Steel Corp.‘s (OTC:NPSCY) proposed $14.9 billion acquisition of United States Steel Corp. (NYSE:X) months before it happened, according to documents submitted to federal regulators. In at least nine investor calls throughout 2024, Goncalves, whose company’s own $7 billion bid for U.S. Steel was rejected in August 2023, expressed co…

Benzinga

Cleveland-Cliffs CEO Predicted Biden's Block $14.9B Nippon Steel-US Steel Deal Months Before Action - Nippon Steel (OTC:NPSCY), Cleveland-Cliffs (NYSE:CLF)

Cleveland-Cliffs CEO allegedly cast doubt on deal prospects on at least 9 investor calls. Read more at straitstimes.com.

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At 14:50 (Lisbon time), the Dow Jones index rose 0.48% to 42.936.80 points and the Nasdaq, dominated by the technological sector, rose 1.58% to 19.930.91 points. The extended S&P 500 index totaled 0.87% and was at 5.994.09 points. In the Dow Jones, the main index of the New York stock exchange, the technological giants Nvidia (3.38%) and Microsoft (1.44%) stood out with the highest increases. Out of this index, US Steel rose 4.2% after it was an…

Às 14h50 (hora de Lisboa), o índice Dow Jones subia 0,48% para 42.936,80 pontos e o Nasdaq, dominado pelo setor tecnológico, avançava 1,58% para 19.930,91 pontos.   O índice alargado S&P 500 somava 0,87% e estava em 5.994,09 pontos. No Dow Jones, o principal índice da bolsa nova-iorquina, as gigantes tecnológicas Nvidia (3,38%) e Microsoft (1,44%) destacavam-se com as maiores subidas. Fora deste índice, a US Steel subia 4,2% após ter sido anunci…

Wall Street sobe com impulso das tecnológicas

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Wall Street rises with the boost of technology

Nippon Steel's $14.9 billion bid for U.S. Steel faces opposition from Biden amid national security concerns and skepticism from Cleveland-Cliffs' CEO Lourenco Goncalves. Despite being twice as valuable as Cleveland-Cliffs' bid, the deal was politicized, leading to its potential blockage by CFIUS.

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WASHINGTON (Reuters) - Even as Nippon Steel faced skepticism of its doomed $14.9 billion bid for U.S. Steel from the Biden administration, it was also contending with headwinds from an unlikely source: the CEO of a rival bidder for the firm who repeatedly cast doubt on the deal's prospects to investors.

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Rival CEO Spread Doubt about Nippon Steel Deal Prospects, Documents Allege

WASHINGTON — Even as Nippon Steel faced skepticism of its doomed $14.9 billion bid for U.S. Steel from the Biden administration, it was also contending with headwinds from an unlikely source: the CEO of a rival bidder for the firm who repeatedly cast doubt on the deal’s prospects to investors.

Rival CEO spread doubt about Nippon Steel deal prospects, documents allege

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