Financial risks and uncertainties surround CLF's potential acquisition of US Steel, but share buyback program offers potential returns to investors.

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.

The move by Cleveland-Cliffs comes after the Biden administration blocked the U.S. Steel-Nippon tie-up on national security grounds.

Cleveland-Cliffs CEO Lourenco Goncalves said Monday he had a plan to buy U.S. Steel as he launched a tirade against Japan, calling the close U.S. ally “evil.”

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

The CEO of Cleveland-Cliffs Inc. (NYSE: CLF) is not holding back in his assessment of lawsuits filed by Nippon Steel and U.S. Steel Corp. that are aimed at salvaging a deal that has been blown up by President Joe Biden and, more broadly, political opposition.

Cleveland-Cliffs CEO Lourenco Goncalves said Monday his company is ready to make another offer for U.S. Steel if its attempted merger with Japan’s Nippon Steel fails for good. “We have an all-American solution,

I have a plan, I have an all-American solution in place. The all-American solution centers on people, on workers,” said Cleveland-Cliffs CEO Lourenco Goncalves.

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.

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.