Japan’s Nippon Steel has received backing from U.S. steel-producing regions for its proposed $15 billion acquisition of U.S. Steel. The plan, opposed by President Joe Biden and incoming successor Donald Trump, aims to address national security concerns with commitments on job protection and local investment. A letter signed by 24 U.S. municipality officials has been sent to Biden, urging him to approve the deal. However, the United Steelworkers union remains skeptical, stating that Nippon Steel lacks interest in preserving domestic steel operations.
Source: https://www.reuters.com/markets/deals/nippon-steels-us-steel-takeover-plan-has-support-steelmaking-areas-executive-2024-12-25