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Nippon Steel hits back in angry response to Biden and Trump stance on US Steel takeover bid


Published on 2024-12-11 10:01:00 - MSN
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  • Nippon Steel slammed the "inappropriate" influence of politics on its planned takeover of US Steel after President Joe Biden was reportedly ready to block it.

Nippon Steel has responded critically to the opposition from both President Joe Biden and former President Donald Trump regarding its proposed $14.9 billion acquisition of U.S. Steel. The company expressed disappointment over the politicization of what it considers a beneficial business transaction, emphasizing that the deal would enhance U.S. Steel's competitiveness and benefit American workers and the economy. Nippon Steel highlighted its commitment to maintaining U.S. Steel's headquarters in Pittsburgh, honoring all existing union contracts, and investing in the company's future. They also pointed out their long-standing presence in the U.S., with over 4,000 employees and significant investments in the American steel industry, arguing that the acquisition would not compromise national security but rather strengthen it through increased production capacity and technological advancements.

Read the Full MSN Article at:
[ https://www.msn.com/en-us/politics/government/nippon-steel-hits-back-in-angry-response-to-biden-and-trump-stance-on-us-steel-takeover-bid/ar-AA1vFjQe ]