Cleveland-Cliffs, a Cleveland, Ohio-based company that specializes in the mining, beneficiation, and pelletizing of iron ore, failed to acquire United States Steel, an American integrated steel producer, for $7.3bn. On August 13, 2023, Cleveland-Cliffs offered to acquire United States Steel for $7.3bn. The offer was rejected by the board of US Steel. On August 14, 2023, Esmark offered to acquire United States Steel for $7.8bn. On August 23, 2023, Esmark said it would not participate in the purchase process for US Steel and respect the position of the United Steel Workers union, which is supporting Cleveland-Cliffs' offer. After Cleveland-Cliffs' offer was rebuffed, US Steel agreed to a deal with Nippon Steel.