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“With the arbitration process now behind us, we look forward to moving ahead with our pending transaction with Nippon Steel," U.S. Steel President and CEO David Burritt said in a statement.
"We look forward to completing the transaction, which secures the best future for the American steel industry and all our stakeholders.” Shares of U.S. Steel rose 6% in trading Monday.
President Joe Biden blocked the $15 billion acquisition of U.S. Steel by Japan's Nippon Steel on Friday — something he had first vowed to do in March. With roots dating to the late 19th century ...
Nippon Steel and U.S. Steel have already taken legal action, including asking a federal court to set aside the Committee on Foreign Investment in the United States review process and the president ...
U.S. Steel, formed by J. P. Morgan's merger of Carnegie Steel with other steel producers, was once the largest company in the United States. [24] The Pittsburgh-based steelmaker had held the record for the largest initial public offering of any company in history—becoming the first billion-dollar company—and was added to the Dow Jones Industrial Average on its first day of public trading ...
The $14.9 billion sale of iconic steelmaker US Steel to Japan’s Nippon Steel ends months of speculation over industry consolidation in a move criticized by union workers, but seen by one analyst ...
U.S. Steel said in a statement Monday that the deal “is the best way, by far, to ensure that U.S. Steel, including its employees, communities, and customers, will thrive well into the future.”
U.S. Steel’s president and CEO declared President Biden’s decision to block the company from being acquired by the Japanese corporation Nippon Steel “shameful” and “corrupt” in a ...