Nippon
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For more than a year, U.S. Steel pursued an ambitious solution to its mounting challenges. Once a symbol of American industrial might, it had agreed to a takeover by Nippon Steel, a Japanese rival, in a bid to ward off obsolescence. Citing the need to finance a costly modernization of its mills, U.S. Steel warned […]
New York CNN — US Steel and Nippon, whose $14.3 billion merger was blocked by President Joe Biden last week, filed a lawsuit against the US government Monday, claiming Biden’s executive order to bar the companies from combining was signed for “purely political reasons.”
This picture taken on Feb. 16, 2024 shows a logo of Nippon Steel Corp. at the company’s Kyushu manufacturing base in Kitakyushu city of Fukuoka Prefecture. U.S. President Joe Biden plans to express concern over Nippon Steel’s proposed $14.9 billion purchase of U.S. Steel, a person familiar with the matter said on Wednesday, pushing the […]
U.S. Steel and Japan’s Nippon Steel sued the United States government on Monday in a last-ditch attempt to revive their attempted merger after President Biden blocked it last week on the basis that the transaction posed a threat to national security. The lawsuit, filed in a federal court in Washington, accused Mr. Biden and other […]
Tokyo/Hong Kong CNN — Nippon Steel, whose multibillion-dollar proposal to buy struggling US Steel was blocked by President Joe Biden last week, says it is considering taking legal action against the US government.
WASHINGTON — By blocking a Japanese company’s takeover of U.S. Steel, President Joe Biden said he was protecting good jobs in the American heartland. He may be putting them at risk instead. In making its nearly $15 billion bid for the storied Pittsburgh-based steelmaker, Nippon Steel had promised to invest . . .
United Steelworkers President David McCall declared Friday that U.S. Steel had the financial resources to go it alone. ”It can easily remain a strong and resilient company,” he told reporters. But U.S. Steel has said it needs the cash from Nippon Steel to keep investing in blast furnaces like the ones in Pennsylvania and Indiana. […]
CLEVELAND — President Biden Friday followed through on a promise to block the sale of US Steel to Japanese-owned Nippon Steel, citing national security reasons. “As I have said many times, steel production—and the steel workers who produce it—are the backbone of our nation. A strong domestically owned and operated steel industry represents an essential […]
WASHINGTON (AP) — President Joe Biden has rejected the nearly $15 billion proposed deal for Nippon Steel of Japan to purchase Pittsburgh-based U.S. Steel — affirming his vow in March to block the acquisition. “We need major U.S. companies representing the major share of US steelmaking capacity to keep leading the fight on behalf of […]
US president expected to announce decision to block proposed sale of Pittsburgh-based steelmaker as early as Friday. United States President Joe Biden has decided to block the proposed takeover of US Steel by Japan’s Nippon Steel, US media has reported. Biden is expected to announce his decision to scuttle the $14.9bn sale on national security […]