All articles tagged with #nippon steel corp
Cleveland-Cliffs Inc. CEO is open to making a lower bid for United States Steel Corp. with union support, contingent on the Nippon-US Steel deal falling through, as the steelworkers union has criticized Nippon's takeover approach.
Donald Trump stated that he would block Nippon Steel Corp.'s acquisition of United States Steel Corp. if he wins the November election, citing the need to bring jobs back to the country. The Japanese company's $14.1 billion deal has raised national security concerns and faces opposition from the influential United Steelworkers union and members of Congress. The Committee on Foreign Investment in the United States (CFIUS) will review the sale, potentially delaying a decision until after the election, with the Biden administration emphasizing the need to protect union jobs.
The US national security review of Nippon Steel Corp.’s acquisition of United States Steel Corp. is anticipated to last until late 2022 or possibly extend into 2025, a longer timeline than publicly indicated by the companies. The Committee on Foreign Investment in the US, which has the authority to approve, block, or modify the deal on national security grounds, is currently in the early stages of its evaluation.