Nippon Steel is pushing ahead with its $15 billion bid to acquire U.S. Steel amid mounting political opposition. Nippon Steel proposes that U.S. citizens would hold key leadership roles, arguing the acquisition will bolster U.S. national security by enhancing domestic steel production and supply chains. President Biden, Vice President Harris, and former President Trump all oppose the sale of U.S. Steel, stressing the need to keep the company American-owned. The United Steelworkers union supports this opposition, citing concerns about the impact on workers and national security.
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00:00It's Benzinga, and here's what's on the block.
00:02Nippon Steel is pushing ahead with its $15 billion bid to acquire U.S. Steel amid mounting
00:08political opposition.
00:09Nippon Steel proposes that U.S. citizens would hold key leadership roles, arguing the acquisition
00:14will bolster U.S. national security by enhancing domestic steel production and supply chains.
00:20President Biden, Vice President Harris, and former President Trump all oppose the sale
00:23of U.S. Steel, stressing the need to keep the company American-owned.
00:28The United Steelworkers Union supports this opposition, citing concerns about the impact
00:32on workers and national security.
00:34For all things money, visit Benzinga.com.