US Steel resolves Cleveland-Cliffs' confidentiality agreement issues and approves sale process

Due to a previous disagreement over the non-disclosure agreement (NDA), Cleveland-Cliffs was excluded from the bidding process announced by US Steel on August 13.

U.S. Steel had failed to persuade Cliffs to sign a six-month standstill agreement to prevent a challenge to the board. However, with the latest developments, the NDA agreement issue seems to have been resolved.