The company is also headquartered in a critical swing state and the takeover has from the get-go faced strong opposition from the influential Steelworkers union as well.
Joe Biden and President elect Trump have said they want US Steel to remain American owned, both before and after the elections.
03.01.2025 12:51 — 👍 0 🔁 0 💬 0 📌 0
The context, as always, key:
- this takeover approach unfolded during a politically charged election year state side, involves an iconic business, synonymous with US economic power.
03.01.2025 12:49 — 👍 0 🔁 0 💬 1 📌 0
It comes after CFIUS' national security review on the buyout deal could not come to an unanimous decision, despite numerous assurances from Nippon including a proposal this week to give the US govt veto power in terms reducing the US steelmaker's production capacity.
03.01.2025 12:48 — 👍 0 🔁 0 💬 1 📌 0
THREAD: So after more than a year since #NipponSteel's takeover bid of #USSteel was first made public – multiple reports suggest it is set to be blocked by President Biden.
03.01.2025 12:47 — 👍 0 🔁 0 💬 1 📌 0
Japan's #Nikkei225 Share Average in 2024, key highlights:
- gained 19.2%
- touched an intraday high of just under 42.5K in early July
- fell 25% in the weeks after that, marked by 14.2% drop on August 5 triggered by yen carry trade unwind
- global funds net sellers this calendar year
31.12.2024 05:42 — 👍 2 🔁 0 💬 0 📌 0
