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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 ...
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 ...
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
Nippon Steel has scheduled the deal to close later this year. Once the world’s largest corporation, U.S. Steel was the world’s 27th-largest steelmaker in 2023, according to World Steel Association figures. It reported just under $900 million in net income on $16 billion in sales last year.
Opinion - From U.S. Steel to the ‘Art of the Deal’ — Trump’s opportunity for economic statecraft Daniel J. Rosenthal, opinion contributor January 12, 2025 at 11:00 AM
Pennsylvania Governor Josh Shapiro said on Tuesday that he cannot support Nippon Steel's bid to buy U.S. Steel in its current form because the United Steelworkers union is unhappy with the merger.