Nippon Steel is determined to finalize its acquisition of U.S. Steel by the end of the year for $15 billion, despite facing political opposition from U.S. Senators JD Vance, Josh Hawley, and Marco Rubio. These senators have urged President Biden to block the transaction, citing legal authority to do so unilaterally. However, the vice chairman of Nippon Steel believes that the political controversy surrounding the deal will subside after the U.S. presidential election in November. Additionally, 98% of economists view the acquisition as harmless to the U.S. steel industry, and 95% agree it will cause no measurable damage to the U.S. economy.
This week Sens Vance, Hawley, and Rubio asked Biden to block Nippon Steel take-over. 98% of economist don't agree the acquisition will hurt the US steel industry. 95% agree it will cause no measurable damage to the US economy. https://t.co/4RGrIKW46W
The politicization of Nippon Steel's planned acquisition of U.S. Steel will fizzle out after the American presidential election in November, according to the vice chairman of the Japanese steelmaker. https://t.co/qTKSD9U2C3
Good stuff here from @JDVance1, @marcorubio, and @HawleyMO. https://t.co/35TshjFbES
Japan's Nippon Steel is sticking to its plan to finalize its $15 billion acquisition of U.S. Steel by year-end, despite political resistance. https://t.co/gwLOcf0LEl
🚨NEW: Senators @JDVance1, @HawleyMO & @MarcoRubio Demand Biden Block Foreign Takeover Of U.S. Steel “By law you possess the authority to block the sale of U.S. Steel unilaterally...We urge you to summon the courage to do the right thing.” https://t.co/29Yl4o8Loy
Japan’s Nippon Steel sticking to plan to close U.S. Steel deal by year-end https://t.co/9loLLvh8Ix