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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 ...
Now, Steeltown USA's most storied steel company, U.S. Steel, is on the cusp of being bought by Japanese steelmaker Nippon Steel Corp. in a deal that's kicking up an election year political ...
President Biden, who calls himself the most pro-union president in American history, reaffirmed support for domestic ownership of U.S. Steel as it faces potential acquisition by Nippon Steel.
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 ...
Biden calls for a tripling of tariffs on Chinese steel as he makes economic pitch in Pittsburgh Betsy Klein and Michael Williams, CNN April 17, 2024 at 11:14 PM
And, they say, “U.S. Steel remains U.S. Steel.” Meanwhile, Pittsburgh is a changed place. It is no longer a destination for new steel investment. Gone are the 20 or so miles (32 kilometers) of contiguous iron and steel mills from downtown Pittsburgh and up the Monongahela River that helped the U.S. industrialize and wage wars.
The steelmaker's CEO David Burritt told WSJ the nearly $3 billion Nippon had pledged to invest in U.S. Steel's older mills was crucial to remain competitive and maintain workers' jobs. "We wouldn ...
A dramatic improvement in the prospects for United States Steel (NYSE: X) being sold to a foreign buyer led to a rally in the stock on the last trading day of the year. The news item that got the ...