The bid by Japan’s Nippon Steel to buy U.S. Steel may have a new lease on life, now that the Biden Administration pushed back the deadline it imposed for the Japanese steelmaker to abandon its plan to acquire the storied Pittsburgh company.

The bid by Japan’s Nippon Steel to buy U.S. Steel may have a new lease on life, even as the potential for a new bid for the storied Pittsburgh steelmaker began to emerge Monday.

United States Steel Corp. shares rose after CNBC reported that Cleveland-Cliffs Inc. and Nucor Corp. are considering a takeover bid of the iconic American steelmaker. Cliffs would purchase all of US Steel for cash and then sell off the Big River Steel subsidiary to Nucor,