(Gary, IN) - Northwest Indiana could be without U.S. Steel.

The steel giant has turned down an offer from Cleveland Cliffs, another major steelmaker in Burns Harbor.

Reports indicate U.S. Steel did not ask for the offer but could be considering it or at least a partial buyout.

The offer was for 7.3 billion dollars.

Cleveland Cliffs officials said an acquisition or consolidation would mean steel produced at a lower cost and other positives to position the company better for the future.

The U.S. Steel plant in Gary has been there for more than 120 years.

Congressman Frank Mrvan of Highland, whose district includes Michigan City, is reportedly monitoring the situation.