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Nippon Steel may sue US over Biden's block of US Steel acquisition
Nippon Steel, whose multibillion-dollar proposal to buy struggling US Steel was blocked by President Joe Biden last week, says it is considering taking legal action against the US government. We are considering this as an important option, Tadashi Imai, president of Nippon Steel, told reporters...
US Steelworkers Union slams Nippon Steel's proposal for lack of long-term commitment
The United Steelworkers union has raised concerns over Nippon Steels latest proposal regarding its potential merger with U.S. Steel, specifically criticizing its provision that grants the U.S. government veto power over future production cuts, reports Reuters. The union, which has staunchly...
Nippon Steel proposes no cuts to US Steel's output for 10 years
Nippon Steel has sent the White House a new proposal on US Steel, attempting to get the green light from President Joe Biden to acquire the American company, a US media report said Tuesday. The proposition involves giving the US government a veto over reducing US Steels production capacity,...