Isn’t this a strategic ASSET acquisition that should go through a review process or will the Bidem team just rush to sell off another piece of the US?
Good question. I have a related question: how much of US Steel’s land was acquired through eminent domain many decades ago, only to be sold to a company from another country?
>>>Isn’t this a strategic ASSET acquisition that should go through a review process or will the Bidem team just rush to sell off another piece of the US?<<<
I think this will be beneficial. Jap management will probably lower costs, increase quality and thus increase domestic steel production. Going back in time doing a little research America produced 8.2 million cars in 1985 which was a six year high. The recent high for American production recently was 2019 where 10.8 million cars were made. Despite the Big 3 losing so much market share since 1985, auto production is essentially the same adjusting for population. That’s because so many foreign brands make their cars here. Hopefully the US Steel acquisition will be a positive.
Not even close, they were a smaller player in the market. And their main product is hot-rolled.
They already announced all union contracts will be honored.