Cleveland-Cliffs and Nucor Said to Mull Joint US Steel Bid (2)

Cleveland-Cliffs Inc. is partnering with Nucor Corp. to weigh a potential joint bid for United States Steel Corp., according to a person familiar with the matter. Cliffs’ top boss later confirmed his interest in the American steelmaker at a press event.

The companies are considering an offer that would involve Cleveland-Cliffs acquiring most of US Steel and Nucor taking its so-called mini-mill assets, said the person, who asked to not be identified because the details aren’t public. A final decision hasn’t been made and the companies could still opt against pursuing a deal, the person said.

US Steel didn’t respond ...