U.S. Steel Shares Plunge as White House Eyes Blocking $14.9 Billion  Nippon Sale

  • 3 weeks ago
U.S. Steel shares dropped over 17% as reports surfaced that President Joe Biden plans to block the company's sale to Japan's Nippon Steel. Vice President Kamala Harris and former President Donald Trump have voiced their opposition to the deal. U.S. Steel CEO David Burritt warned of potential plant closures and relocation of the Pittsburgh headquarters if the deal is stopped. Burritt emphasized the importance of the deal for competitiveness and jobs.  Nippon Steel asserts the acquisition would strengthen the U.S. steel industry and bolster national security.

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