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Nippon Steel Set to Buy U.S. Steel, Union Dismayed
On Monday, Japan's Nippon Steel expressed its intention to purchase the United States Steel Corporation. The iconic American business supplies numerous industries, with the automotive sector being one of the largest.
Nippon Steel is reportedly offering a deal worth $14.9 billion and the assumption of any debt. However, the United Steel Workers don’t seem pleased with the arrangement and were said to have backed an earlier offer from domestic rival Cleveland-Cliffs Inc. totaling $7.25 billion.
Matt Posky
Dec 18, 2023
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