There is only one Fortune 500 Company with "Cleveland" in its name. Why it matters: Maybe not for long. Driving the news: Cleveland-Cliffs CEO Lourenco Goncalves announced Monday in a rambling two-hour press conference that if a proposed acquisition of U.

If Cleveland-Cliffs is able to acquire US Steel, its CEO says the headquarters of the new entity would be in Pittsburgh, not Cleveland.

Cleveland-Cliffs CEO Lourenco Goncalves's comments come after President Biden rejected the merger between U.S. Steel and Nippon Steel.

Cleveland-Cliffs CEO Lourenco Goncalves has lined up financing for a US Steel takeover bid in the $8 billion range, bringing him closer to his longstanding goal of cornering the US steel industry, he told Semafor in an interview.

Cleveland-Cliffs CEO Lourenco Goncalves’ nearly two-hour news conference Monday afternoon was called to mark five years since he acquired Butler Works and the rest of AK Steel, taking what was a sprawling steelmaking plant on the brink of closure and giving it life well into the future.

"I already initiated my investigation on how to import dogs from Japan," Cleveland-Cliffs CEO Goncalves said. "I'll go after him personally and I'll take his last penny, his house, his car and his dog.

After a takeover by Japan’s Nippon Steel was blocked, a new deal may be gaining traction. The politics of Joe Biden and Donald Trump are center stage.

CEO Lourenco Goncalves said he has the funding for a US Steel (NYSE:X) potential acquisition in the $8 billion range. Goncalves declined to say which banks had committed to financing an offer, the Cliffs CEO told Semafor  in an interview published on Tuesday.