Cleveland-Cliffs is partnering with Nucor in a potential bid for US Steel, sources said

Cleveland Rocks cooperates with the opponent Nukor in potential rate on US Steelwhose takeover of Japan’s Nippon Steel was simply blocked by the White House earlier this month, sources told CNBC David Faber.

Cleveland-Cliffs would buy all of US Steel for all the money, then sell the Big River Steel subsidiary to Nucor, sources said. Under the agreement, US Steel’s headquarters will remain in Pittsburgh.

The offer will be a high stake of US$30. Nippon had planned to buy US Steel for $55 a share in a deal valued at more than $14 billion.

Shares of US Steel jumped more than 7% in morning trading on Monday.

Over the weekend, the White House extended the deadline for Nippon to permanently end its pursuit US Steel until June while the companies file a lawsuit in federal court against the decision to block the deal.

President Joe Biden’s decision to block the sale came after a review by the Committee on Foreign Investment in the United States, although he has made it clear for months that he believes US Steel should remain a US-owned company.

Biden cited national security concerns in his decision to block the deal, saying a strong domestic steel industry is critical to U.S. supply chains.

US Steel CEO David Burritt called on President-elect Donald Trump to reverse Biden’s decision to block the sale when he takes office later this month. Trump also opposed Nippon’s acquisition of US Steel.

This is a developing story. Check for updates.