cleveland cliffs Working with competitors Nucor in a potential bid United States Steel CorporationEarlier this month, the White House blocked a takeover by Japan’s Nippon Steel Corp, sources told CNBC David Faber.

Cleveland-Cliffs will acquire all of U.S. Steel for all cash and then sell the Big River subsidiary to Nucor Steel, sources said. Under the agreement, U.S. Steel’s headquarters will remain in Pittsburgh.

Offers will be in the high share of $30. Nippon originally planned to acquire U.S. Steel for $55 per share, a deal worth more than $14 billion.

U.S. Steel shares rose more than 8% on Monday to $37.15 per share.

The White House over the weekend extended Japan’s deadline to permanently end its pursuit United States Steel Corporation It was not until June that the companies filed a lawsuit against President Joe Biden in federal court. Decision to block transaction.

U.S. Steel and Nippon Steel have also filed separate lawsuits against Cleveland-Cliffs, its CEO Lorenco Gonsalves and United Steelworkers President David McCall, accusing them of conspiring to block the trade. Shares of Cleveland-Cliffs and Nucor each rose about 3% on Monday.

Biden decided to block the sale following a review by the Committee on Foreign Investment in the United States, but the president has been clear for months that he believes U.S. Steel should remain an American company.

Biden cited national security concerns in his Jan. 3 decision, saying a strong domestic steel industry was critical to U.S. supply chains. U.S. Steel and Nippon Steel argued the deal was in the best interest of workers and national security by strengthening the steel industry to counter threats from China.

U.S. Steel CEO David Burritt calls president-elect Donald Trump will reverse Biden’s decision Block the sale when he takes office later this month. Trump also opposed Japanese steel companies’ acquisition of U.S. steel companies.

U.S. Steel closed at $34.24 a share on Friday.