Steels
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 […]
A building at Nippon Steel’s East Nippon Works Kashima Area facility in Kashima, Ibaraki prefecture, north of Tokyo on Dec. 6, 2024. Richard A. Brooks | Afp | Getty Images U.S. President Joe Biden has decided to block Nippon Steel’s $14.9 billion takeover bid of U.S. Steel, The Washington Post reported on Friday, citing two […]
Nippon Steel Corp. has promised it will not cut output capacity at United States Steel Corp.’s mills for 10 years, in its latest proposal to the administration of President Joe Biden aimed at winning approval to acquire the struggling producer, a media report said Tuesday. The Washington Post said the Japanese steelmaker sent its proposal […]
Topline The Committee on Foreign Investment in the United States (CFIUS) was unable to reach a consensus on potential national security risks posed by Japanese firm Nippon Steel’s $15 billion bid to take over U.S. Steel on Monday, leaving the fate of the controversial deal in the hands of President Joe Biden who has expressed […]
Sept 25 (Reuters) – U.S. Steel (X.N), opens new tab said on Wednesday an arbitration board had ruled in favour of Nippon Steel’s (5401.T), opens new tab $14.9 billion buyout of the company, but that the United Steelworkers union (USW)disagreed with the decision. The board, jointly selected by the company and the union to settle […]
(Reuters) – The union representing employees of United States Steel on Tuesday said it would not support Japanese firm Nippon Steel’s draft agreement to gain support for its takeover of the U.S. company. In December, Nippon agreed to buy U.S. Steel for roughly $15 billion but the deal faces an uphill battle to approval amid […]
WASHINGTON (AP) — President Joe Biden came out in opposition to the planned sale of U.S. Steel to Nippon Steel of Japan, saying on Thursday that the U.S. needs to “maintain strong American steel companies powered by American steel workers.” In a statement, Biden added: “U.S. Steel has been an iconic American steel company for […]
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