Japanese companies needing to grow have sought out American deals. Experts say that will not change even after Biden’s rejection of Nippon Steel’s takeover attempt.
Biden blocks sale of US Steel to Japan’s Nippon Steel
Opinion
Editorial: Blocking Nippon deal is a death sentence for Pittsburgh steel
President Joe Biden's decision to block Nippon Steel's acquisition of U.S. Steel will go down as one of the worst of his presidency, and will tarnish the legacy of a man who set out to strengthen American relations with other nations and to be the most pro-worker president in modern American history.
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Nippon, US Steel file suit against Biden administration, union, and rival after $15B deal scuttled
WASHINGTON/TOKYO (Reuters) -U.S. President Joe Biden blocked Nippon Steel's proposed $14.9 billion purchase of U.S. Steel on Friday, citing national security concerns, dealing a potentially fatal blow to the contentious plan after a year of review.
President Joe Biden has blocked the nearly $15 billion proposed deal for Nippon Steel of Japan to purchase Pittsburgh-based U.S. Steel — affirming his earlier vow on the presidential campaign trail to prevent the acquisition of Steeltown USA's most storied steel company.
President Joe Biden has rejected the nearly $15 billion proposed deal for Nippon Steel of Japan to purchase Pittsburgh-based U.S. Steel.
Cleveland-Cliffs CEO Lourenco Goncalves's comments come after President Biden rejected the merger between U.S. Steel and Nippon Steel.
President Joe Biden on Friday announced a decision to block the $14 billion acquisition of U.S. Steel by Japan-based Nippon Steel, saying domestically produced steel is essential to U.S. national security. "Without domestic steel production and domestic steel workers, our nation is less strong and less secure," Biden said in a statement.
President Joe Biden has blocked the nearly $15 billion proposed deal for Nippon Steel of Japan to purchase Pittsburgh-based U.S. Steel — affirming his earlier vow on the
The companies condemned the president's decision and hinted at taking legal action, while U.S. Steel's CEO accused Biden of "political corruption."
U.S. Steel employs thousands of workers on Minnesota's Iron Range at Minntac in Mountain Iron and Keetac in Keewatin.
And while Nippon promised to keep the headquarters in Downtown Pittsburgh and not shut down ... including government officials from Japan and allies and partners in the U.S., to take all ...
Japan-based Nippon Steel has offered to give the U.S. government veto power over any potential reduction in steel output by U.S. Steel if the federal government approves a proposed merger.
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