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☆ Lobito Corridor: Angola’s US, Europe-backed railway could change how minerals move in Africa – and globally
▼ + stars: | 2024-11-04 | by ( Amy Gunia | Jackelyn Prager | ) edition.cnn.com time to read: +6 min

CNN —In late August, a container vessel sailed out of Angola’s Port of Lobito carrying railway operator Lobito Atlantic Railway’s first shipment of copper from the Democratic Republic of Congo (DRC) to the US. That’s about 30 days faster than a road journey, according to Francisco Franca, the CEO of Lobito Atlantic Railway (LAR), a consortium of firms that took over operations of the railway in January. The ship took Lobito Atlantic Railways first shipment of copper to the US. “Lobito Corridor is not just a railway line, but is the economic development along the corridor,” said Franca, the CEO of LAR. For companies like his, the benefits of the Lobito Corridor are clear.

Persons: CNN —, Francisco Franca, Franca, LAR, Washington jostle, Emmet Livingstone, Joe Biden, “, David Reekmans, Reekmans, Asia ”, Trump, Joao Manuel Goncalves Lourenco, Evelyn Hockstein, Xi Jinping, ”, Wamkele Mene, Décio Catarro Organizations: CNN, Democratic, Lobito Atlantic Railway, Washington, MSC, Lobito Atlantic Railways, Atlantic Railway, Initiative, Benguela Railway, Partnership for Global Infrastructure, Investment, Getty, Port, White House, Reuters, African Continental Free Trade Area, Industry Locations: Angola’s Port, Lobito, Democratic Republic of Congo, DRC, Europe, Kolwezi, Angola, Africa’s, Beijing, Benguela, China, Africa, Washington, AFP, America, Asia, Zambia, Tanzania, Tanzanian

☆ Keurig Dr Pepper will buy energy drink maker Ghost for more than $1 billion
▼ + stars: | 2024-10-24 | by ( Auzinea Bacon | ) edition.cnn.com time to read: +1 min

New York CNN —Keurig Dr Pepper will expand its energy drink business by acquiring the brand Ghost for more than $1 billion. The range of Ghost’s energy drink flavors, in partnership with sweet brands like Sour Patch Kids and Oreo, sets Keurig up to appeal to a younger audience, the company said in a statement Thursday. This is the biggest deal Keurig has signed off since acquiring Dr Pepper Snapple Group in 2018 for nearly $19 billion in cash, according to the Wall Street Journal. Keurig Dr Pepper Inc. (KDP) will acquire Ghost in two stages, paying $990 million in cash for 60% of the company by early 2025, then will buy the remaining stake in 2028, according to the statement. The deal includes Ghost’s sports nutrition business and energy drink arm.

Persons: New York CNN —, Dr Pepper, Keurig, Tim Cofer, “, ” Cofer, Pepper, Ghost’s, Dan Lourenco, Ryan Hughes, ”, Lourenco Organizations: New, New York CNN, Dr Pepper Snapple Group, Wall Street, C4 Energy, Black Rifle Coffee Company, Pepper Inc Locations: New York

President Joe Biden has postponed his overseas trip this week due to Hurricane Milton, according to two sources familiar with the planning. Biden was scheduled to depart for Berlin on Thursday and then travel to Angola in Southern Africa, returning to the U.S. on Oct. 15. "Given the projected trajectory and strength of Hurricane Milton, President Biden is postponing his upcoming trip to Germany and Angola in order to oversee preparations for and the response to Hurricane Milton, in addition to the ongoing response to the impacts of Hurricane Helene across the Southeast," White House Press Secretary Karine Jean-Pierre said in a statement. Residents there are still reeling from the destruction caused by Hurricane Helene last month. Criswell will be in Florida providing guidance and coordinating disaster response to Milton, White House press secretary Karine Jean-Pierre told reporters Monday.

Persons: Joe Biden, Hurricane Milton, Biden, Hurricane Helene, Karine Jean, Pierre, Milton, Donald Trump, Kamala Harris, Helene, Harris, Trump, Deanne Criswell, João Lourenço, “, States ’ Organizations: House Press, FEMA, NBC News, Defense Department, White Locations: Hurricane, Berlin, Angola, Southern Africa, Germany, Florida, North Carolina, Georgia, Milton, U.S, States, United States

☆ Microplastics found in nose tissue at base of brain, study says
▼ + stars: | 2024-09-16 | by ( Sandee Lamotte | ) edition.cnn.com time to read: +7 min

CNN —Tiny plastic shards and fibers were found in the nose tissue of human cadavers, according to a small new study. The threads and microplastic pieces were discovered in the olfactory bulb, the part of the nose responsible for detecting odors that sits at the base of the brain. Microplastics are polymer fragments that can range from less than 0.2 inch (5 millimeters) down to 1/25,000th of an inch (1 micrometer). However, an April 2023 study found that microplastics made of polypropylene appeared to exacerbate the advance of breast cancer. The nose is one of many ways through which microplastics can enter the body, experts say.

Persons: ”, Luís Fernando Amato, Lourenço, Amato, Lourenço, Phoebe Stapleton, “ I’m, ” Stapleton, “, Betsy Bowers, ” Bowers, ” Sherri “ Sam ” Mason, ” Amato, microplastics, Julian Ward, Leonardo Trasande, don’t, Trasande Organizations: CNN, Free University of Berlin, Rutgers University, Industry Alliance, Penn State, JAMA, US Environmental Protection Agency, Getty, American Academy of Pediatrics, NYU Langone Health, Natural Resources Defense Council, Invest Locations: Piscataway , New Jersey, Erie , Pennsylvania

☆ Cleveland Cliffs offers to buy unionized mills US Steel is threatening to close
▼ + stars: | 2024-09-06 | by ( Chris Isidore | ) edition.cnn.com time to read: +2 min

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. But those objections could be lessened if the alternative to Cleveland Cliffs buying the mills was their closure. Cleveland Cliffs said it has the financing in place to buy the threatened intergrated steel mills, which make steel from raw materials. Cleveland Cliffs CEO Lourenco Goncalves praised those reported plans to block the deal, even though they are not yet confirmed.

Persons: Biden, Joe Biden, Kamala Harris, Donald Trump, J.D, Lourenco Goncalves, “, ” Goncalves, ” Organizations: New, New York CNN, Nippon Steel, Steel, United Steelworkers, Nippon, CNN, Cleveland Cliffs, US Steel, United, Commonwealth Locations: New York, Cleveland, Vance, Pittsburgh, United States, Pennsylvania

☆ Cleveland-Cliffs CEO Lourenco Goncalves goes one-on-one with Jim Cramer
▼ + stars: | 2024-08-12 | by ( Jim Cramer | ) www.cnbc.com time to read: 1 min

Cleveland-Cliffs CEO Lourenco Goncalves goes one-on-one with Jim CramerCleveland-Cliffs CEO Lourenco Goncalves joins 'Mad Money' host Jim Cramer to talk quarterly results, recent acquisitions and more.

Persons: Lourenco Goncalves, Jim Cramer Cleveland, Jim Cramer Organizations: Cliffs Locations: Cleveland

☆ Cleveland-Cliffs CEO: Stelco Holdings purchase extends geography into business-friendly Canada
▼ + stars: | 2024-07-15 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailCleveland-Cliffs CEO: Stelco Holdings purchase extends geography into business-friendly CanadaCleveland-Cliffs CEO Lourenco Goncalves joins 'Money Movers' to discuss what the company's latest acquisition does for it, what to expect in tariffs if Trump becomes president, and much more.

Persons: Lourenco Goncalves, Trump Organizations: Cliffs, Stelco Holdings Locations: Cleveland, Canada Cleveland

☆ Biden looks to counter China’s influence as he rolls out red carpet for Kenya
▼ + stars: | 2024-05-23 | by ( Kevin Liptak | Kayla Tausche | ) edition.cnn.com time to read: +8 min

Among the goals of his three-day state visit in October: securing another $1 billion in loans from China to help complete infrastructure projects. On Wednesday, when he arrived at Joint Base Andrews to begin another state visit – this time to Washington – he again found a red carpet and troops. Senior administration officials acknowledge a central factor in scheduling a state visit with Kenya was the desire to counter China’s influence and financial leverage on the African continent, which has outpaced the United States in direct investment. One of the goals of Thursday’s state visit is to demonstrate the ability of democracies – like Kenya’s – to deliver for their people. “I plan on going in February,” Biden told reporters.

Persons: Washington CNN —, William Ruto, Joint Base Andrews, Washington –, Jill Biden, Joe Biden, –, Kenya –, ”, “, Biden, Ruto, ” Ruto, he’s, João Manuel Gonçalves Lourenço, Jake Sullivan, ” Biden, Xi Jinping, Donald Trump –, ” Sullivan, Ariel Henry Organizations: Washington CNN, Kenyan, Joint Base, East, Kenya, NATO, Africa –, White, Initiative, Loans, Washington, World Bank, Group, European Union, Democratic, White House, Angolan, Advisers, CNN, Haitian Locations: Beijing, China, Africa, Kenya, United States, China’s, Nairobi, Mombasa, Boston, US, Angola, Democratic Republic of Congo, Zambia, Washington, East, Ukraine, ”, Russia, –, combatting al, Shabab, Somalia, Yemen, Haiti

☆ Watch CNBC's full interview with Cleveland-Cliffs CEO Lourenco Goncalves
▼ + stars: | 2024-04-23 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch CNBC's full interview with Cleveland-Cliffs CEO Lourenco GoncalvesLourenco Goncalves, Cleveland-Cliffs CEO, joins 'Closing Bell Overtime' to talk quarterly results, share buybacks, U.S. Steel-Nippon deal and more.

Persons: Lourenco Goncalves Lourenco Goncalves Organizations: Cliffs, U.S . Steel, Nippon Locations: Cleveland, U.S

☆ We have the liquidity to pursue further share buybacks, says Cleveland-Cliffs CEO
▼ + stars: | 2024-04-23 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWe have the liquidity to pursue further share buybacks, says Cleveland-Cliffs CEOLourenco Goncalves, Cleveland-Cliffs CEO, joins 'Closing Bell Overtime' to talk quarterly results, share buybacks, the U.S. Steel-Nippon deal and more.

Persons: Lourenco Goncalves Organizations: Cliffs, U.S . Steel, Nippon Locations: Cleveland

☆ Mozambique: At least 94 dead after unlicensed ferry boat capsizes, official says
▼ + stars: | 2024-04-08 | by ( Story Reuters | ) edition.cnn.com time to read: +1 min

Reuters —At least 94 people died, including children, and 26 are missing after a ferry boat capsized off the northern coast of Mozambique, an official from the country’s Maritime Transport Institute (INTRASMAR) said. “On Sunday we registered a maritime incident where at least 94 people died when a barge carrying 130 people capsized. We have recovered 94 bodies and 26 are missing,” he said. Jaime Neto, secretary of state for Nampula province, also said that the passengers were fleeing cholera, according to the BBC. Videos posted on social media X showed many bodies lying on a beach and some people carrying the bodies of children.

Persons: Lourenco Machado, INSTRASMAR, “, ”, Jaime Neto Organizations: Reuters, country’s Maritime Transport Institute, TVM, BBC Locations: Mozambique, country’s, Lunga, Nampula, Africa

☆ Cleveland-Cliffs CEO: Have full conviction a Nippon Steel-USW deal 'will never happen'
▼ + stars: | 2024-03-19 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailCleveland-Cliffs CEO: Have full conviction a Nippon Steel-USW deal 'will never happen'Cleveland-Cliffs CEO Lourenco Goncalves joins 'Squawk on the Street' to discuss Nippon Steel's proposed deal to buy U.S. Steel, why he believes Nippon Steel will not reach an agreement with the United Steelworkers union, whether Cleveland-Cliffs would consider a bid for U.S. Steel's asset if the Nippon deal fell apart, and more.

Persons: Lourenco Goncalves, Nippon Steel's Organizations: Cliffs, Nippon Steel, Nippon, . Steel, United Steelworkers, U.S Locations: Cleveland

CHARLESTON, W.Va. (AP) — Cleveland-Cliffs announced Thursday that it is shutting down a northern West Virginia tin production facility indefinitely and plans to lay off 900 workers after the International Trade Commission voted against imposing tariffs on tin imports. The trade commission also voted to stop a duty investigation into tin products shipped from South Korea. Cleveland-Cliffs said it will offer either severance packages or opportunities for workers in Weirton to be relocated to its other facilities. The trade commission ruling was shocking and made it “impossible for us to viably produce tinplate.”Goncalves added that the trade commission’s decision “is a travesty for America, middle-class jobs, and our critical food supply chains. Cleveland-Cliffs' tin facility in Weirton was once a nearly 800-acre property operated by Weirton Steel, which employed 6,100 workers in 1994 and filed for bankruptcy protection in 2003.International Steel Group bought Weirton Steel in federal bankruptcy court in 2003.

Persons: —, Lourenco Goncalves, “, ”, ” Goncalves, ” Sen, Joe Manchin, ” Manchin, Sen, Shelley Moore Capito Organizations: Cliffs, International Trade Commission, U.S . Department of Commerce, United Steelworkers, Weirton, International Steel Group, Weirton Steel, Commerce Locations: CHARLESTON, W.Va, — Cleveland, West Virginia, Canada, China, Germany, United States, South Korea, Cleveland, Weirton, Ohio, Pittsburgh . Cleveland, America, West Virginia’s, Follansbee . Cleveland, Luxembourg, ”

☆ Cleveland-Cliffs CEO Lourenco Goncalves on Q4 results
▼ + stars: | 2024-01-30 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailCleveland-Cliffs CEO Lourenco Goncalves on Q4 resultsCleveland-Cliffs CEO Lourenco Goncalves joins 'Money Movers' to discuss the company's quarterly earnings results, the key drivers of demand this year, and the outlook for U.S. steel.

Persons: Lourenco Goncalves Organizations: Cliffs Locations: Cleveland

☆ ‘I Want Everything.’ The Pugnacious, Arm-Twisting CEO
▼ + stars: | 2023-12-01 | by ( Bob Tita | ) www.wsj.com time to read: 1 min

Veteran Brazilian steel executive Lourenco Goncalves has a booming voice. He’s used it to demand customers buy more steel and to dress down analysts who’ve dared to critique his company’s performance. In the past three years, he’s shouted his way to the top of the U.S. steel industry. Goncalves, 65, is on the precipice of the boldest move of his career: acquiring 122-year-old United States Steel. If he prevails, the deal would reshape the U.S. steel industry, making Cleveland-Cliffs —an iron ore mining company just a few years ago—the largest domestic steelmaker by volume and the 10th largest in the world.

Persons: Lourenco Goncalves, He’s, who’ve, he’s, Goncalves Organizations: United States Steel Locations: U.S, Cleveland

LAS VEGAS (AP) — Five homeless people were shot in Las Vegas on Friday, two of them fatally, and police were searching for a lone suspect, authorities said. The shooting occurred around 5:30 p.m. near a freeway overpass in the northeastern part of the city, according to Las Vegas Metropolitan Police Department Lt. Mark Lourenco. “We believe this is an isolated event," Lourenco responded in a text when asked if there was an active shooter situation. One shooter was involved, but a suspect had not been captured, he said Friday evening. Political Cartoons View All 1277 ImagesThe shooting comes after police in Los Angeles announced Friday they are searching for a suspect in the fatal shootings of three homeless people in separate incidents last month.

Persons: Mark Lourenco, Lourenco, “ Organizations: LAS VEGAS, —, Las Vegas Metropolitan Police Department Locations: Las Vegas, Las, Los Angeles

WASHINGTON (AP) — President Joe Biden is hosting Angolan President João Manuel Gonçalves Lourenço in the Oval Office on Thursday as he seeks to reaffirm his commitment to Africa even as two wars consume much of his administration's foreign policy focus. The visit comes as Biden appears set to break his commitment to African leaders to visit the continent this year — though senior U.S. officials have made key trips to Africa throughout 2023. This is a fundamental shift in Angolan foreign policy,” lobbyist Robert Kapla wrote in April to Biden confidant Amos Hochstein, according to lobbyist disclosure records. It's part of a global infrastructure program championed by Biden that is meant as a counterweight to China's Belt and Road initiative. Much of Biden's recent foreign policy focus has been on Russia's war in Ukraine and the fighting between Israel and Hamas.

Persons: Joe Biden, João Manuel Gonçalves Lourenço, Angola's, Biden, ”, John Kirby, Lourenço, Robert Kapla, Amos Hochstein, Kapla, Molly Phee, “ Organizations: WASHINGTON, Angolan, Security, Biden, U.S, Democratic Locations: Africa, United States, China, Russia, Angolan, Lobito, Kananga, Democratic Republic of Congo, Zambia, It's, Ukraine, Israel, U.S

☆ Biden to skip COP climate meeting in Dubai- official
▼ + stars: | 2023-11-27 | by ( ) www.reuters.com time to read: +1 min

U.S. President Joe Biden boards Air Force One at Nantucket Memorial Airport in Nantucket, Massachusetts, U.S., November 26, 2023. REUTERS/Tom Brenner/File photo Acquire Licensing RightsNov 26 (Reuters) - U.S. President Joe Biden will not attend a gathering of world leaders focused on climate change in Dubai this week, a U.S. official said on Sunday. Dozens of countries plan to push for the world's first deal to phase out CO2-emitting coal, oil and gas at the Dubai meeting. Biden has attended both of the COP summits since his 2021 inauguration. Reporting by Jeff Mason, writing by Dan Whitcomb; Editing by Caitlin Webber and Gerry DoyleOur Standards: The Thomson Reuters Trust Principles.

Persons: Joe Biden, Tom Brenner, Biden, João Manuel Gonçalves Lourenço, Jeff Mason, Dan Whitcomb, Caitlin Webber, Gerry Doyle Organizations: Air Force, REUTERS, U.S, Sunday, Reuters, United Nations, Conference, White House, Thomson Locations: Nantucket, Nantucket , Massachusetts, U.S, Dubai, Republic of Angola

☆ Automakers oppose Cleveland-Cliffs push to buy U.S. Steel
▼ + stars: | 2023-10-31 | by ( David Shepardson | ) www.reuters.com time to read: +2 min

U.S. Steel Edgar Thompson Works is seen in Braddock, Pennsylvania, U.S. November 4, 2022. REUTERS/Quinn Glabicki/File Photo Acquire Licensing RightsWASHINGTON, Oct 31 (Reuters) - A group representing major automakers on Tuesday said the industry opposes steelmaker Cleveland-Cliffs' (CLF.N) proposed acquisition of U.S. Steel (X.N), saying it would increase auto industry costs and slow electric vehicle sales. U.S. Steel in August rejected Cleveland-Cliff's proposed $7.25 billion price. Cleveland-Cliffs CEO Lourenco Goncalves last week during an earnings call declined to discuss the issue, citing restrictions. In August, U.S. Steel said it had entered into confidentiality agreements with "numerous third parties" and started to review multiple unsolicited proposals ranging from partial acquisition to an entire buyout.

Persons: Steel Edgar Thompson, Quinn Glabicki, John Bozzella, Lina Khan, Jonathan Kanter, Cliff's, Lourenco Goncalves, David Shepardson, Nick Zieminski Organizations: REUTERS, Rights, U.S . Steel, Alliance, Automotive Innovation, General Motors, Toyota, Volkswagen, Hyundai, Federal Trade Commission, Justice Department Antitrust, . Steel, Cliffs, Steel, Thomson Locations: Braddock , Pennsylvania, U.S, Cleveland

LAS VEGAS (AP) — Thousands of hotel workers fighting for new union contracts rallied on the Las Vegas Strip on Wednesday evening, halting rush-hour traffic before dozens were arrested for sitting in the street. Las Vegas police said 58 people were cited for assembling to disturb the peace, a misdemeanor. Leaders of the Culinary Workers Union said they wanted a show of force ahead of any potential strike. As the protest began, Kimberly Dopler, a cocktail server at Wynn Las Vegas since it opened in 2005, said she planned to halt traffic. A Las Vegas strike deadline has not yet been set as the union and casino companies return to the bargaining table this week.

Persons: Mark Lourenco, Kimberly Dopler, “ I’m, ”, Cindy Hiatt, Michelle Shirley, ” Hiatt, Ted Pappageorge, Bethany Khan, Kahn, hasn’t, Leslie Lilla, “, we’ve, Scott Sonner Organizations: LAS VEGAS, Las, Palace . Police, Culinary Workers Union, MGM Resorts International, Caesars Entertainment, Wynn Resorts, MGM, Detroit, Wynn Las, Bellagio, Associated Press Locations: Bellagio, Michigan, Wynn Las Vegas, Missouri, Las Vegas, Vegas, Nevada, Hollywood, Detroit, Reno , Nevada

But Portugal's housing crisis curbed her dreams and forced her to live in a tent. Sale prices have skyrocketed 137% in that period, according to housing data specialists Confidencial Imobiliario. Brazilians, who make up 40% of Portugal's migrant community, on average earn around 20% less than Portuguese, according to the Migration Observatory. At Saturday's rallies in Lisbon, Porto and other cities, protesters carried banners reading "Housing is a right!" The 2021 census showed that nearly 38% of Portugal's foreign population lived in overcrowded households, and various rights groups have said migrants often face discrimination in access to housing.

Persons: Marcia Leandro, Andreia Costa, Confidencial, Leandro, Dinis Lourenco, Lourenco, Costa, Miguel Pereira, Catarina Demony, Andrei Khalip, David Holmes Organizations: Confidencial Imobiliario, Migration, Socialist, Thomson Locations: LISBON, Portugal, Brazil, Lisbon, Western, Porto

NEW YORK (Reuters) -U.S. Steel Corp is locked in a spat with rival steelmaker Cleveland-Cliffs Inc over a confidentiality pact that would allow the latter to participate in a sale process that is underway, people familiar with the matter said on Wednesday. U.S. Steel has made the standstill a condition to allowing Cliffs to carry out due diligence and participate in its sale process, the sources added. It has also told Cliffs that all bidders are being granted access to its sale process on the same terms, according to the sources. Reuters has reported that ArcelorMittal is one of the parties that has been working on a potential bid for U.S. Steel. Cliffs would break into the world’s top 10 steel producers, which are mostly from Asia, should its bid for U.S. Steel succeed.

Persons: steelmaker, David Lawder, ArcelorMittal, Steel, Thomas Conway, Lourenco Goncalves Organizations: YORK, . Steel Corp, Cliffs Inc, REUTERS, U.S . Steel, . Steel, JPMorgan, UBS, MUFG, Truist Securities, Reuters, U.S, Steel, United Steelworkers, Wall, United Auto Workers, UAW Locations: steelmaker Cleveland, Granite City , Illinois, Wells Fargo, Asia

This is because blast furnaces operate around the clock and need more workers. Goncalves is also betting that producing iron ore in-house for blast furnaces, rather than sourcing scrap steel for electric arc furnaces, will give Cliffs a competitive edge. While a few carmakers use aluminum for automotive bodies, most prefer high-grade steel from blast furnaces. Cliffs' devotion to blast furnaces, which are unionized unlike some electric arc furnaces, won it the support of United Steelworkers. The union's international president Thomas Conway said it's backing Cliffs' bid for U.S. Steel because of Goncalves' commitment to blast furnaces.

Persons: Lawrence Bryant, Lourenco Goncalves, Goncalves, Josh Spoores, Donald Trump, Phil Gibbs, Thomas Conway, Joe Biden's, Isla Binnie, Bianca Flowers, Greg Roumeliotis, Daniel Wallis Organizations: U.S . Steel, U.S . Steel Granite City, REUTERS, Cliffs Inc, U.S, U.S . Steel Corp, AK Steel, CRU Group, Steel Dynamics, Steel, Reuters, United Steelworkers, Thomson Locations: U.S . Steel Granite, Granite City , Illinois, U.S, CHICAGO, United States, Cleveland, North America, Asia, Toledo , Ohio, New York, Chicago

☆ Cleveland-Cliffs demands U.S. Steel to reveal all buyout offers
▼ + stars: | 2023-08-22 | by ( ) www.reuters.com time to read: +1 min

Steel workers at U.S. Steel Granite City Works in Granite City, Illinois, U.S., May 24, 2018. U.S. Steel, which rejected Cliffs' $7.3 billion cash-and-stock offer as inadequate, had earlier said it was exploring "multiple unsolicited proposals". The stance comes after the USW said last week it would only back Cleveland-Cliffs as a suitor for the company. Even if U.S. Steel has not received any bids, the company must acknowledge that no such proposals have been received, Cleveland-Cliffs said. U.S. Steel had also attracted a $7.8 billion all-cash offer from Esmark Inc and a potential acquisition interest from ArcelorMittal SA (MT.LU).

Persons: Lawrence Bryant, USW, Lourenco Goncalves, Priyamvada, Krishna Chandra Organizations: U.S . Steel, U.S . Steel Granite City, REUTERS, Tuesday U.S . Steel, United Steelworkers, . Steel, U.S, Steel, Cliffs, Esmark Inc, ArcelorMittal SA, Thomson Locations: U.S . Steel Granite, Granite City , Illinois, U.S, Cleveland, Bengaluru

☆ Watch CNBC's full interview with Cleveland-Cliffs CEO Lourenco Goncalves on U.S. Steel offer
▼ + stars: | 2023-08-14 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch CNBC's full interview with Cleveland-Cliffs CEO Lourenco Goncalves on U.S. Steel offerCleveland-Cliffs CEO Lourenco Goncalves joins 'Squawk on the Street' to discuss the company's attempt to purchase U.S. Steel, the rationale behind the deal, and the regulatory approval for the deal.

Persons: Lourenco Goncalves Organizations: Cliffs, U.S . Steel, . Steel Locations: Cleveland

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