Nippon Steel sent a delegation to Washington to assess the US Steel deal. Executive Vice President Takahiro Mori met with US Congress members to discuss the acquisition, facing resistance. Cleveland-Cliffs argued that its bid for US Steel was worth more than Nippon Steel's. US Steel was concerned about antitrust regulations and consolidation of steel supply to US automakers. Despite Cleveland-Cliffs' efforts, Nippon Steel prevailed in the deal, revealing changes in merger decisions by authorities.
[rejected think tank report titles] Mine Kampf: Strategic Competition and the Struggle for Critical Minerals Dominance
Before Nippon prevailed, Cleveland-Cliffs tried to seal a deal with US steel. Even a hefty break fee and synergies couldn’t sway the target. It’s a revealing portal into how authorities are altering merger decisions: @JMAGuilford https://t.co/HCOa49G0FN https://t.co/v0NoX3qpw1
"US Steel was concerned that a combination w Cleveland-Cliffs risked being shot down by antitrust regulators bc it would massively consolidate the supply of steel to US automakers & put up to 95% of US iron ore production under the control of one company" https://t.co/dcHcS8Fw7l https://t.co/BxMXtL3ELZ
Cleveland-Cliffs argued its US Steel bid was worth more than Nippon Steel's, filing shows https://t.co/QGp1t4ExdJ https://t.co/F9MIACkpbg
$X (-0.2% pre) $CLF Cleveland-Cliffs argued its US Steel bid was worth more than Nippon Steel's, filing shows - Reuters https://t.co/G9VkW8eRBQ
Japan's Nippon Steel exec meets US Congress members amid US Steel deal https://t.co/NQYoylHi1C https://t.co/SNSgkAHkaK
Japan's Nippon Steel Executive Vice President Takahiro Mori has met US Congress members to discuss acquisition of US Steel, the company said, as it faces strong resistance to the deal https://t.co/jqTe5thGQ0
$X Nippon Steel sends delegation to Washington to gauge U.S. Steel deal - Nikkei https://t.co/g1YCjXIVzJ