ussteel
Washington (AFP) - A proposed deal that would see US Steel Corp bought by Japan's Nippon Steel should be closely investigated by American authorities, the White House said Thursday, warning it could have national security implications. Unveiling the planned transaction this week, the two companies depicted the deal as a marriage of the holders of top technologies that would boost steel output and accelerate efforts toward decarbonization. But US Steel's possible sale abroad has triggered furious criticism in Washington and from trade unions. President Joe Biden "believes the purchase of this i...
AFP
New York (AFP) - US Steel Corp and its potential buyer Nippon Steel of Japan are requesting a federal review of their proposed deal following congressional criticism that the transaction threatens US national security, US Steel said Thursday. The companies asked the Committee on Foreign Investment in the United States -- an interagency body established to review foreign takeovers of US companies -- to evaluate Nippon's $14.1 billion takeover of Pittsburgh-based US Steel. "We look forward to a successful review," said a statement from US Steel's press office. "Japan is an important ally to the...
AFP
Washington (AFP) - Japan's Nippon Steel agreed to buy US Steel Corp for $14.1 billion, the companies announced on Monday, sparking criticism about the firm's ownership in an industry crucial to US national security. A major US steelworkers' union and a top US politician came out against the Japanese conglomerate's all-cash agreement to acquire the US firm for $55 per share. The deal price marks a 40 percent premium on US Steel's closing price on Friday and represents an equity value of about $14.1 billion, the companies said in a statement. Nippon will also assume the US firm's debt, taking...
AFP
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