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  • Fetterman says he’ll work to block ‘absolutely outrageous’ US Steel sale

    12/18/2023 1:00:33 PM PST · by ChicagoConservative27 · 64 replies
    The Hill ^ | 12/18/2023 | LAUREN SFORZA
    Sen. John Fetterman (D-Pa.) vowed Monday to work to block the $14.9 billion sale of U.S. Steel Corp. to Japanese steelmaker Nippon Steel, which he described as an “outrageous” move. The deal was announced Monday, prompting the stock prices of U.S. Steel to jump up 25 percent. Fetterman criticized the sale, saying in a post on X, the platform formerly known as Twitter, that the move was “wrong for workers and wrong for Pennsylvania.”
  • US Steel to be acquired for more than $14B by Nippon Steel

    12/18/2023 9:56:51 AM PST · by Abathar · 35 replies
    Inside Indiana Business ^ | Monday, December 18, 2023 | ap
    PITTSBURGH - U.S. Steel, the Pittsburgh steel producer that played a key role in the nation’s industrialization, is being acquired by Nippon Steel in an all-cash deal valued at approximately $14.1 billion. The transaction is worth about $14.9 billion when including the assumption of debt. The combined company will be among the top three steel-producing companies in the world, according to 2022 figures from the World Steel Association. The price tag for U.S. Steel is nearly double what was offered just four months ago by rival Cleveland Cliffs. U.S. Steel, which rejected that offer, confirmed the offering price from Nippon...