Steels

Steel industry in turmoil as Biden expresses concern over Nippon Steel’s $14.9 billion U.S. Steel purchase

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Washington, D.C. – President Joe Biden is gearing up to voice his apprehensions regarding Nippon Steel’s proposed $14.9 billion acquisition of U.S. Steel. A source familiar with the matter revealed that this stance by Biden has caused a 12% drop in U.S. Steel’s stock as concerns mount over potential political opposition to the deal. Nippon Steel secured a deal in December to purchase the long-standing U.S. Steel, banking on the infrastructure bill’s spending and tax …

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Steel Showdown: Biden’s Bold Move Against Nippon Steel’s Deal Threatens US Steel Acquisition

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Washington, D.C. – President Joe Biden is set to weigh in on the proposed acquisition of US Steel by Nippon Steel, a move that could potentially disrupt the deal and strain relationships with Japan. The statement, expected to be released before Japanese Prime Minister Fumio Kishida’s visit to Washington on April 10, expresses deep concerns about the $14.9 billion deal. US officials and legal experts have been involved in crafting the statement, which has stirred …

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