Nippon Steel’s $14 billion takeover bid for the steelmaker appears doomed, with President Biden expected to reject it. Litigation and diplomatic turmoil could follow.
Category: Steel and Iron
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Biden Plans to Block Takeover Bid of U.S. Steel by Japan’s Nippon
The president’s announcement of the fate of the iconic Pennsylvania-based company, which became a contentious political issue in an election year, is expected as soon as Friday.
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National Security Committee Forgoes Decision on U.S. Steel Acquisition
The Committee on Foreign Investment in the United States kicked a decision over the merger with Japan’s Nippon Steel to President Biden, who is expected to block the deal.
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Steel Maker ThyssenKrupp to Slash 11,000 Jobs in Germany
The venerable steel producer, which has been struggling against high energy prices at home and growing competition from abroad, is the latest company in Europe to cut its work force.
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Why Germany’s Economy, Once a Leader in Europe, Is Now in Crisis
The country is facing a second year of zero growth, with industry leaders gloomy and worried about potential tariffs from President-elect Donald Trump.
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Ohio Reaps Benefits From a Climate Law JD Vance Repeatedly Attacks
Former President Donald J. Trump has called for clawing back unspent funds included in the Inflation Reduction Act, President Biden’s landmark climate bill. That could have adverse impacts in Ohio.
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U.S. Steel C.E.O. Says Nippon Deal Will Strengthen National Security
David Burritt expressed confidence that the sale of the American manufacturer to a Japanese owner would close “on its merits” despite bipartisan backlash.
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Big Energy Issue in Pennsylvania Is Low Natural Gas Prices. Not Fracking.
Energy businesses and farmers in western Pennsylvania are struggling because of prices, an issue that has not figured prominently in the campaigns of Donald J. Trump and Kamala Harris.
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Greener Steel at Britain’s Largest Plant Comes With Heavy Job Losses
The British government and Tata of India said they would invest 1.25 billion pounds in a plan to convert the steel mill at Port Talbot in Wales to an electric furnace.
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U.S. Blowback to Nippon Steel-U.S. Steel Merger Vexes Japan
A looming decision in Washington to block Nippon Steel’s merger with U.S. Steel on national security grounds is raising sharp questions in Tokyo.
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Biden Expected to Block U.S. Steel Takeover
The Committee on Foreign Investment in the United States is expected to raise national security concerns about selling the iconic steel producer to Japan’s Nippon Steel.