Cleveland-Cliffs (CLF) is partnering with Nucor (NUE) in a potential bid for U.S. Steel (X) after U.S. Steel’s proposed takeover by Nippon Steel (NPSCY) was blocked by the White House earlier this month, sources tell CNBC’s David Faber, reports Spencer Kimball. Cleveland-Cliffs would purchase all of U.S. Steel for all cash and then sell off the Big River Steel subsidiary to Nucor, the sources said. The offer would be in the high $30s per share, sources tell CNBC.
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