DATE

DEVELOPMENT

Aug. 13, 2023

U.S. Steel announces its aim to explore strategic options after receiving unsolicited bids, ranging from the acquisition of certain production assets to consideration for the entire company

Aug. 13, 2023

U.S. Steel rejects a $7.3-billion offer from Cleveland-Cliffs, leading to the start of a formal review of its strategic options

Aug. 14, 2023

The United Steelworkers (USW) union supports Cleveland-Cliffs' bid to acquire U.S. Steel, saying the company is the best strategic buyer

Aug. 14, 2023

Shares of U.S. Steel rise after privately held firm Esmark makes a $7.8-billion all-cash offer for the company

Aug. 16, 2023

ArcelorMittal, the world's second-largest steelmaker, considers a potential offer for U.S. Steel, Reuters reports

Aug. 17, 2023

U.S. Senator J.D. Vance asks U.S. Steel to rule out a foreign buyer for the company

Aug. 17, 2023

U.S. Steel states that its labor agreement with USW does not grant the union the right to veto a potential sale of the company

Aug. 22, 2023

Cleveland-Cliffs demands U.S. Steel reveal all buyout offers it has received

Aug. 23, 2023

Esmark withdraws its bid for U.S. Steel, respecting the position of the USW union, which supports Cleveland-Cliffs' offer

Aug. 29, 2023

U.S. Steel begins the due-diligence process after entering agreements with numerous third parties

Sept. 20, 2023

U.S. Steel and Cleveland-Cliffs clash over a confidentiality pact

Sept. 21, 2023

Canada's Stelco Holdings considers a bid for U.S. Steel, Bloomberg news reports

Sept. 28, 2023

U.S. Steel allows Cleveland-Cliffs to participate in its sale process

Oct. 31, 2023

Major automakers oppose Cleveland-Cliffs' proposed acquisition of U.S. Steel, citing potential cost increases and a slowdown in electric-vehicle sales

Dec. 18, 2023

Japan's Nippon Steel announces its plan to buy U.S. Steel in a deal valued at $14.9 billion

Dec. 19, 2023

Three U.S. Republican senators urged Treasury Secretary Janet Yellen to block the deal forU.S. Steel by Nippon Steel, citing national security concerns.

Dec. 20, 2023

Brian Deese, a key player in President Joe Biden's 2024 re-election bid, said Nippon's proposed purchase of U.S. Steel was concerning and that the administration should look closely at it.

Dec. 21, 2023

The White House said Nippon Steel's proposed acquisition of U.S. Steel deserves "serious scrutiny," given the company's core role in U.S. steel production that is critical to national security.

Dec. 22, 2023

Japanese Industry Minister Ken Saito said that U.S.-Japanese ties were "stronger than ever," although he declined to comment directly on growing scrutiny in the United States of a proposed deal for Nippon Steel to buy U.S. Steel.

Jan. 05, 2024

Nippon Steel was confident of successfully completing its planned acquisition of U.S. Steel, despite opposition from labor union and certain U.S. senators, its president said.

Jan. 12, 2024

Nippon Steel said President Eiji Hashimoto would become CEO and chairman effective April 1, remaining at the helm as the top Japanese steelmaker aims to complete a deal to take over U.S. Steel

Jan. 24, 2024

Nippon Steel Executive Vice President Takahiro Mori met U.S. Congress members to discuss acquisition of U.S. Steel, as it faced strong resistance to the deal.

Jan. 30, 2024

Sumitomo Mitsui Financial Group, Mitsubishi UFJ Financial Group and Mizuho Financial Group planned to lend Nippon Steel a combined $16 billion for its planned acquisition of U.S. Steel.

Feb. 07, 2024

Nippon Steel said it was on track to finalize its planned acquisition of U.S. Steel by the end of September as it stepped up talks with key stakeholders, particularly labor unions.

March 04, 2024

A senior Nippon Steel executive told Reuters he was set to meet the United Steelworkers union chief to seek support for acquiring U.S. Steel.

March 13, 2024

President Joe Biden planned to express concern over Nippon Steel's proposed purchase of U.S. Steel, pushing the U.S. company's stock nearly 13% lower on bets the deal could face greater political opposition.

April 10, 2024

The U.S. Department of Justice opened an in-depth antitrust investigation into Nippon Steel's takeover of U.S. Steel.

April 12, 2024

U.S. Steel shareholders voted to approve the acquisition, taking the merger one step closer to completion even as political opposition to the deal mounts.

April 17, 2024

President Joe Biden said at an event in Pittsburgh that the U.S. Steel should stay a U.S.-owned company.

May 2, 2024

The U.S. Department of Justice sent a "second request" to U.S. Steel, seeking more details and documentary materials as part of an antitrust review of the deal.

May 6, 2024

The European Commission approved U.S. Steel's $14.9 billion buyout saying that the deal does not raise competition concerns.

May 30, 2024

Both U.S. Steel and Nippon Steelsaid they had received all regulatory approvals outside the U.S. for their proposed merger to go through