Nippon Steel hopes to finish U.S. Steel buyout by year-end

[BumRushDaShow]

Source: Kyodo News, Japan

11 hours ago


TOKYO - Nippon Steel Corp. hopes to complete its planned acquisition of United States Steel Corp. by the end of the year, before U.S. President-elect Donald Trump returns to the White House, an executive said Thursday.

"We are now in a position to make measured discussions," Nippon Steel Vice Chairman and Executive Vice President Takahiro Mori told a press conference. "Make no mistake, we can close this deal within the year" ahead of Trump's January inauguration, he added.

Both Trump, who claimed victory and a nonconsecutive second term as president in Wednesday's election, and outgoing U.S. President Joe Biden have said they would block the takeover of the iconic American firm by Japan's largest steelmaker.

The U.S. Committee on Foreign Investment is reviewing the proposed acquisition until late December. Mori said the review process was going "smoothly."

Read more: https://english.kyodonews.net/news/2024/11/a45effc68828-nippon-steel-hopes-to-finish-us-steel-buyout-by-year-end.html

[Hotler]

1. What a bargain. A steel plant for pennies on the dollar and when the fascist do away with the Department of labor, OSHA

and the minimum wage, they'll get workers for pennies an hour. And no pesky safety requirements.

[INdemo]

2. I think the workers will be in the Steelworkers Union

That is the way it is in Northwest Indiana

[rockfordfile]

3. Not good.

[LudwigPastorius]

4. It won't happen by January 20.

Maybe not ever.