09:38 AM EDT, 04/23/2024 (MT Newswires) -- Nippon Steel will not be able to close a deal to take over United States Steel ( X ) without the backing of the United Steelworkers union, the chief financial officer of Cleveland-Cliffs ( CLF ) said Tuesday.

"As we explained to US Steel, to their advisers and to the entire market early in the process last year, there is no way to close the sale of U.S. Steel without agreement and full support from [the United Steelworkers]," Celso Goncalves said during Cleveland-Cliffs' ( CLF ) earnings call, according to a Capital IQ transcript.