Japan's Nippon Steel has reached a $14.1-14.9 billion all-cash deal to acquire U.S. Steel, a historic symbol of American industrialization. The acquisition has sparked concerns about the impact on existing labor contracts, national security, and the future of American steel industry. Politicians, including Senators Bob Casey, JD Vance, and Marco Rubio, have voiced opposition and urged the Biden administration to block the sale, citing the need to protect American workers and national security. However, some argue that the deal benefits shareholders and ensures the company remains headquartered in the U.S. The White House has signaled that the acquisition deserves 'serious scrutiny' due to U.S. Steel's critical role in national security and supply chains.
US Steel agreed to be bought by Japanese firm Nippon Steel in a $14.1 billion deal this week. It's not the only brand with a strong American legacy to get scooped up by an international company. ✍️ via @CNNBusiness: https://t.co/wSYAdPlYGZ https://t.co/ad88l4e1Qa
"Biden’s Foolish Snub of Nippon Steel" by @WillRevenge https://t.co/VTXxWNCAn6 via @WSJopinion "The irony is that the Biden administration’s industrial policies prompted the deal" https://t.co/RmHdduczps
White House Prepares For "Serious Scrutiny" Of Nippon-US Steel Deal https://t.co/p5ou9UqAZd
The White House expressed national security concerns about Nippon Steel’s proposed acquisition of U.S. Steel on Thursday. https://t.co/dyEA2M4S4G
The acquisition of US Steel by Nippon Steel presents serious risks for America, not only in terms of national security but also in how Washington manages its economic relations with key allies. My latest for @unherd https://t.co/JasVqo6x2o
The Nippon purchase cannot become an excuse to neglect the structural shortcomings of the American economy. @MiquelVilam warns about the dangers of a foreign company acquiring US Steel 👇 https://t.co/fLMh9yOlgg
U.S. Steel has agreed to be acquired by the Tokyo-based Nippon Steel, but will political pressure prevent this deal from going through? @bradleydevlin for @amconmag https://t.co/QvIyFqlKBM
'Why is it that US Steel is the one being bought by Nippon Steel and not the other way around?' | @MiquelVilam https://t.co/fLMh9yOlgg
White House Signals Nippon Steel’s Acquisition Of U.S. Steel May Face Federal Scrutiny https://t.co/20KMUJ9CeO https://t.co/RGuVDRy5Lv
Biden believes U.S. Steel sale to Japanese company warrants 'serious scrutiny,' White House says https://t.co/CujCcrhnqC
The White House said Nippon Steel’s $14.9 billion proposed acquisition of U.S. Steel deserves ‘serious scrutiny,’ given the company's core role in US steel production that is critical to national security https://t.co/bgvL1fxTqi
The White House said Nippon Steel’s $14.9 billion proposed acquisition of U.S. Steel deserves ‘serious scrutiny,’ given the company's core role in US steel production that is critical to national security. More here: https://t.co/64Fp6ccrjE
A Biden administration official said the $14.1 billion deal to acquire U.S. Steel by Japan’s Nippon Steel deserved “serious scrutiny” over its potential impact on national security and supply chains https://t.co/75bCJDqwPB https://t.co/75bCJDqwPB
And there it is: "Nippon’s proposed $14.9bn acquisition of the Pittsburgh-headquartered steel producer has... posed a political dilemma for Biden, who has cast himself as the most pro-union US president in decades...." https://t.co/vEVjAPS5wy
A proposed deal that would see US Steel Corp bought by Japan's Nippon Steel should be closely investigated by American authorities, the White House said, warning the merger could have national security implications. https://t.co/tZdaPAtMce https://t.co/t99U5W63jQ
Biden calls for national security review of Nippon Steel’s bid for US Steel: FT
Biden believes Nippon purchase of U.S. Steel deserves "serious scrutiny" https://t.co/2G0dK9bAPU
Let them Merge: Foreign Acquisition of US Steel | @OfficialSeevers Nippon Steel's proposal to merge with US Steel is meeting opposition from the usual suspects in Washington, not to mention Tucker Carlson. Their hysteria is off the charts. https://t.co/Zcoz64lxxC
NEW: The White House says the sale of US Steel to a Japanese buyer "appears to deserve serious scrutiny." It's Biden's strongest intervention yet and another sign of political pressure swirling around the deal.
US Steel, Nippon Steel seek US security review of takeover deal https://t.co/VHHCMGKmiM
.@marcorubio Asks Biden Administration to Intervene in Proposed Sale of US Steel Corporation Reported by @MateoGuillamont via @Floridianpress https://t.co/aMGgbOtugv #Flpol
"If Nippon Steel’s deal is approved, it will draw a mid-ranked American company under the umbrella of one of the world’s top three steelmakers, none of which is American. Specifically, it will make that company more competitive with Chinese rivals (that are genuinely state-owned)…
Nippon Steel's shares fell on news it plans a $14.1 billion purchase of United States Steel, pointing to risks that Japan’s old economy companies face in trying to lift their market value https://t.co/uYm0y95NYO
What does the US Steel takeover mean for American jobs? Despite outcry from lawmakers and unions, experts say purchase by Japan's Nippon Steel may not impact steelworkers https://t.co/jvqgxLIyCS https://t.co/gqaH7pCaaz
The “#UltimateBetrayal Japan would never let a U.S. Steel Company buy #Nippon (#Japan ) Steel….NEVER!!! Economic reality collides with #industrialpolicy - POLITICO “#USSteel’s decision to sell itself to Japan’s #NipponSteel may make a lot of business sense. But to a Washington…
Excellent, fact-filled @DominicJPino piece on how opposition to the Nippon Steel/US Steel deal has nothing to do with actual national security and is instead just sentimentalist nonsense https://t.co/tH97joe1aO A snippet: https://t.co/hy5qVbRAP1
From @WSJopinion: Protectionists paved the way for Nippon’s takeover of U.S. Steel https://t.co/VY5JA5PBOj
FT: Nippon Steel takeover of US Steel faces opposition in Washington “CFIUS can and should block the acquisition of US Steel by NSC, a company whose allegiances lie with a foreign state and whose record in the United States is deeply flawed.” - @JDVance1 https://t.co/BJL9lpsU0M
⚠️ NIPPON'S US STEEL BUY NEEDS SCRUTINY, SAYS BIDEN CAMPAIGN ADVISER DEESE Brian Deese, a key player in President Joe Biden's 2024 re-election bid, said on Wednesday that Nippon Steel's proposed purchase of U.S. Steel was concerning and that the administration should look… https://t.co/kQpjehl6I7
US Steel is proactively seeking a foreign investment review from President Joe Biden’s administration as a condition of its sale to Japan���s Nippon — a move designed to quiet critics of the deal https://t.co/sCRy5XZWr7
New: Dems @SenBobCasey, @SenFettermanPA & @ChrisForPA are urging @SecYellen & CFIUS to outright block a Japanese company's purchase of US Steel. Biden is under pressure to intervene. But CFIUS is typically for national security risks, so it's... murky. https://t.co/yq9hpy5QDB
US Steel wasn’t being liquidated. They were opening a new plant. Its value has increased massively in the last decade. Nippon’s offer is near a ten year high. https://t.co/xpGW6Dueuy
Good stuff from @EricBoehm87 on the Nippon Steel-US Steel deal, and the very misguided nationalists who oppose it https://t.co/PQpysvWFKe via @reason
"This is obviously a positive development as far as owners of United States Steel shares should be concerned. As for Nippon Steel, the answer to the question of whether the deal makes sense is still somewhat up in the air." https://t.co/85Ih30USPC
US Steel Turns Japanese in over $14 billion deal The once All-American company founded by titans of industry Carnegie and @jpmorgan, agreed to be bought by Japan’s Nippon Steel! Offer = twice the previous $7.3 bn offer from domestic rival, Cleveland-Cliffs 🔍 Thoughts? 🤔 https://t.co/onkTbbkuS0
A Japanese company’s agreement to purchase US Steel has thrust a political dilemma into President Joe Biden’s lap during a reelection bid that runs through America’s manufacturing heartland. https://t.co/oevt2jJtrU
Nippon Steel takeover of US Steel faces opposition in Washington https://t.co/zJFYoVzP36
🚨Reuters: Senators @JDVance1, @HawleyMO and @marcorubio oppose Nippon-U.S. Steel deal over national security The three U.S. Senators have urged Treasury Secretary Janet Yellen to block the $14.9 billion acquisition of U.S. Steel by Japan's Nippon Steel. https://t.co/AmbeqgPMd2
Steel is crucial for American national and economic security. We shouldn’t sell out our future or our workers to foreign corporations. Decades of bad policy already made that mistake for us. The Biden administration should block the sale of U.S. Steel to Nippon Steel.
“This is a major blow to the American steel industry which has been instrumental in making us the superpower of the world and a direct threat to our national security,” @Sen_JoeManchin says of U.S. Steel sale to the Japan-based Nippon Steel. https://t.co/8ImrvXeDJ1
Unpopular Take: The sale of US Steel to Nippon Steel is good for America. First, shareholders are making a huge premium. Second, US Steel will remain a US company HQ’d in Pittsburg. Third, the company plans to keep its deal with the union and as part of the deal the workers will…
🚨Senator @JDVance1 opposes sale of US Steel to Nippon “U.S. Steel announced by celebrating the ‘immediate value’ to be delivered to shareholders...I will do everything in my power to protect the future of our nation’s security, industry, and workers.” https://t.co/5gwzuRY7Mv
Today @marcorubio @HawleyMO and I wrote to the Biden administration to encourage them to block the sale of US Steel to a Japanese conglomerate. The last 40 years should have taught a painful lesson: we need to make more of our own stuff. https://t.co/egwG1AokTB
Shares of U.S. Steel surged after Japan-based Nippon Steel announced plans to purchase the iconic American producer in a deal valued at $14.9 billion. https://t.co/BRPduqaEqr https://t.co/B5CEe76Hh5
NEW: Nippon Steel shares sink after $14.1 billion US Steel deal https://t.co/WG8OuFJXjd
WATCH: Japan's Nippon Steel beat out rivals including Cleveland-Cliffs and ArcelorMittal to secure a purchase of US Steel for $14.9 billion in cash https://t.co/wjb4W6r5PB https://t.co/60TFMFmpXX
Japan's Nippon Steel beat out rivals including Cleveland-Cliffs and ArcelorMittal to secure a purchase of US Steel for $14.9 billion in cash https://t.co/fBO0ae9yua https://t.co/iPMx3JoFAP
American steelmaking giant sold to foreign company US Steel agrees to $14.9 billion buyout by Japan’s Nippon Steel months after rejecting an offer from a domestic rival Details: https://t.co/GbQj2Bxb8U https://t.co/gPUXJrdT1f
WATCH: Nippon Steel secured a purchase of US Steel for $14.9 billion in cash after winning an auction for the renowned 122-year-old steel company, beating competitors like Cleveland-Cliffs and ArcelorMittal https://t.co/wjb4W6rDF9 https://t.co/d2Xbktet8U
Nippon Steel secured a purchase of US Steel for $14.9 billion in cash after winning an auction for the renowned 122-year-old steel company, beating competitors like Cleveland-Cliffs and ArcelorMittal https://t.co/fBO0aea6jI https://t.co/kXb8dq4AU8
Nippon Steel will buy United States Steel, Nikkei reports https://t.co/m2OVdc4PPG
Japanese company to buy US Steel, valuing the famed American manufacturing company at roughly $15B https://t.co/pdAYQw1yGD https://t.co/k7riBAriE2
Japan's Nippon Steel, the world's third-largest steel producer by volume, is paying $55 a share in an all-cash deal, valuing U.S. Steel at about $15 billion. https://t.co/e8h1ZctFw3
WATCH: Japan's Nippon Steel clinched a deal to buy US Steel for $14.9 billion in cash, prevailing in an auction for the 122-year-old iconic steelmaker over rivals including Cleveland-Cliffs, ArcelorMittal and Nucor https://t.co/wjb4W6rDF9 https://t.co/9wQ3l1TkOP
Japan's Nippon Steel clinched a deal to buy US Steel for $14.9 billion in cash, prevailing in an auction for the 122-year-old iconic steelmaker over rivals including Cleveland-Cliffs, ArcelorMittal and Nucor https://t.co/fBO0ae9yua https://t.co/rI1EzQcdXy
From my friend @MSG_Jack_Dona: Anyone remember Bethlehem Steel and what happened to them? How about when @realDonaldTrump predicted that if Biden got elected, he would destroy the steel industry in the USA? Well, today the last titan of the steel industry has fallen to the…
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. https://t.co/vBPuibsV9o
Today I spoke to USW leadership and representatives from @U_S_Steel on the proposed purchase of U.S. Steel by Japan-based Nippon Steel. After these calls, I have concerns about what this means for existing Steelworkers labor contracts and whether this deal is good for PA workers.
"U.S. Steel's completely ignored us," says @steelworkers President David McCall following the $14B Nippon-U.S. Steel deal. "We're really afraid that Nippon's got no better issues than what U.S. Steel is, in terms of broken promises." https://t.co/asoHZWozyU
Bidenomics: US Steel, a symbol of American industrialization and once the largest corporation on the planet, has agreed to a takeover by Japan’s Nippon Steel