Report: Nippon Steel Shares Details on U. S. Steel Investment Plans
12/09/2024 - Seeking support from the United Steelworkers (USW) union for its acquisition of United States Steel Corporation, Nippon Steel Corp. has made new commitments as to the timing and purpose of its previously announced US$1.4 billion investment in the iconic steelmaker. United States Steel Corporation.
According to the Bloomberg news service, Nippon Steel issued a letter to U. S. Steel employees, saying that it has listened carefully to USW leadership and has heard their requests for further details on Nippon Steel’s plans.
“It’s unclear that this letter will change USW leadership’s long-held official stance of opposing the deal, but it does suggest the Japanese buyer is racing to do anything possible to get approval from the influential union before a federal review is concluded on whether to approve the US$14.1 billion takeover,” Bloomberg reported.
Bloomberg has more here.
