02:35 PM EDT, 05/21/2024 (MT Newswires) -- United States Steel ( X ) on Tuesday accused Cleveland-Cliffs ( CLF ) of running a "misinformation campaign" against the steelmaker's deal with Japan's Nippon Steel.

"The investment by [Nippon Steel] has been under attack since day one by one of our competitors and unsuccessful bidder -- Cleveland-Cliffs ( CLF ) -- who have been sowing misinformation to our stakeholders in a relentless and unbridled effort to derail the transaction," US Steel said in a statement.

US Steel said it and Nippon Steel remain fully committed to completing the transaction in H2.

"There has been nothing we have publicized or said publicly that could be described as 'misinformation," Cleveland-Cliffs ( CLF ) responded in a statement. "It is unfortunate that the US Steel Board of Directors is just now realizing that it announced an un-closeable deal and is trying to blame Cliffs for its terrible decision-making."

Cleveland-Cliffs ( CLF ) Chief Financial Officer Celso Goncalves said said in on earnings call in April that Nippon Steel will not be able to close a deal to take over US Steel without the backing of the United Steelworkers union, according to a Capital IQ transcript.

In March, Goncalves told Bloomberg that Cleveland-Cliffs ( CLF ) discussed potential ways with the US government to structure a potential merger with US Steel but "US Steel decided not to listen and go with Nippon Steel."

Nippon Steel did not immediately respond to a request for comment by MT Newswires.

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