U.S. Steel shares plunge on report White House preparing to block Nippon Steel takeover
Publishing timestamp: 2024-09-04 16:02:02
Summary
President Biden is reportedly planning to block the $14.9 billion takeover of U.S. Steel by Japan's Nippon Steel. U.S. Steel CEO warns of plant closures and headquarters move if deal is blocked. Bipartisan opposition to deal due to rising protectionism in the U.S. Nippon Steel argues acquisition would benefit American Rust Belt and national security.
Sentiment: MIXED
Keywords: breaking news: politics, breaking news: markets, business news, kamala harris, politics, nippon steel corp, united states steel corp, donald trump, markets, joe biden, breaking news: asia, business,