• Steelmaker Cleveland-Cliffs faces a major new competitor with deep pockets and a global reach, but the company's CEO sees that as a validation of his company's strategy.

• After an 18-month effort, Tokyo-based Nippon Steel acquired U.S. Steel for $14.9 billion and another $14 billion in investment promises needed to secure approval from the federal government.

• The United States was once home to more than 70 integrated steel mills, but now Cleveland-Cliffs and U.S. Steel are the only two integrated steelmakers left.

• Nippon Steel, which had previously partnered with Inland Steel in IN/TEK and IN/KOBE in New Carlisle, reported more than $60.4 billion in revenue last year.

• Cleveland-Cliffs CEO Lourenco Goncalves said during a recent conference call with investors that Nippon Stee

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