United States Steel Corp.'s stock rose 2.2% early Thursday after the company updated third-quarter guidance and said it's still confident it can win the necessary approvals for its planned takeover by Japan's Nippon Steel, and that it can close the deal by year-end.
WEST MIFFLIN, Pa.—Former President Donald Trump and Vice President Kamala Harris have found agreement on one issue: opposing the $14.1 billion sale of U.S. Steel X 3.83%increase; green up pointing triangle, one of America's most storied corporations, to Nippon Steel 5401 0.15%increase; green up pointing triangle of Japan.
A powerful U.S. national security panel reviewing Nippon Steel's $14.9 billion bid for U.S. Steel faces a Sept. 23 deadline to recommend whether the White House should block the deal, two people familiar with the matter said.
U.S. Steel Corp.'s stock jumps on Wednesday afternoon following a report that President Joe Biden will not move imminently to block the iconic American company's takeover by Japan's Nippon Steel.
Japanese firms are set to scrutinise overseas deals more intently after U.S. resistance to Nippon Steel's $15 billion U.S. Steel purchase, advisers said.
Nippon Steel and U.S. Steel are pushing back on reports their merger would undermine U.S. national security amid reports the Biden-Harris administration is preparing to block the deal.
Shares of Nippon Steel climbed on Thursday, outperforming the wider Nikkei index , after the news that the White House was looking to block the company's $15 billion bid for its peer U.S. Steel.
Nippon Steel Corp has not received any update from the Committee on Foreign Investment in the United States (CFIUS) regarding the company's proposed $14.9 billion acquisition of U.S. Steel , the Japanese company said on Thursday.
US Steel CEO David Burritt warned the company would likely shutter steel mills if the federal government stepped in to derail the merger.
U.S. Steel shares drop more than 15% on report White House preparing to block Nippon Steel takeover
U.S. Steel's CEO is warning that the failure of its planned sale to Nippon Steel would lead to the closure of steel mills that would be modernized if the deal proceeds.
Chief Executive David Burritt says U.S. Steel needs $3 billion in upgrades to compete.