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Nippon Steel and U.S. Steel file suit after Biden administration blocks $15-billion deal
5 days, 11 hours ago

Nippon Steel and U.S. Steel file suit after Biden administration blocks $15-billion deal

LA Times  

Nippon Steel and U.S. Steel filed a federal lawsuit challenging a Biden administration decision to block Nippon’s proposed $15-billion acquisition of the Pittsburgh company and said that the head of the steelworkers union and a rival steelmaker worked together to scuttle the buyout. Biden said Friday that U.S. companies producing a large amount of steel need to “keep leading the …

Japan Companies Steel Biden Suit Deal Decision
Biden killed US Steel deal even though some US officials rejected national security concerns
5 days, 11 hours ago

Biden killed US Steel deal even though some US officials rejected national security concerns

CNN  

New York CNN — President Joe Biden decided to block the $14 billion takeover of US Steel by Japan’s Nippon Steel even though some top US officials did not believe there were sufficient national security grounds to kill the deal, a US official told CNN. “This acquisition would place one of America’s largest steel producers under foreign control and create …

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U.S. Steel sale now in Biden’s hands
Trending News
2 weeks, 5 days ago

U.S. Steel sale now in Biden’s hands

Politico  

A top White House official first signaled Biden’s concern about Nippon Steel’s proposed purchase of the iconic American company one year ago, saying the deal appeared “to deserve serious scrutiny in terms of its potential impact on national security and supply chain reliability.” In March, Biden came out more strongly against it, saying it was “vital” for U.S. Steel “to …

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US Steel Shareholders Approve Nippon Steel’s $14.1 Billion Takeover Offer
8 months, 4 weeks ago

US Steel Shareholders Approve Nippon Steel’s $14.1 Billion Takeover Offer

Live Mint  

-- United States Steel Corp. shareholders voted in favor of a $14.1 billion takeover offer by Nippon Steel Corp., leaving the fate of the deal for the iconic American steelmaker to the realm of US regulators and politics. Investors of US Steel approved the Japanese steelmaker’s $55-a-share offer at a special shareholders’ vote Friday that was widely expected to pass, …

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Biden believes U.S. Steel sale to Japanese company warrants ‘serious scrutiny,’ White House says
1 year ago

Biden believes U.S. Steel sale to Japanese company warrants ‘serious scrutiny,’ White House says

Associated Press  

WASHINGTON — President Joe Biden believes “serious scrutiny” is warranted for the planned acquisition of U.S. Steel by Japan’s Nippon Steel, the White House said Thursday after days of silence on a transaction that has drawn alarm from the steelworkers union. She said in a statement that Biden “believes the purchase of this iconic American-owned company by a foreign entity …

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