Nippon Steel Proposes Deal to Win Approval for U.S. Steel, Sources Say, Washington Post Reports

Dow Jones

Jan 01, 2025

--Nippon Steel is making a last-ditch effort to win President Biden's approval for its $14.9 billion purchase of U.S. Steel, the Washington Post reports, citing people familiar with the matter.

--In the new proposal, Nippon Steel promises not to cut U.S. Steel's production capacity for ten years unless the U.S. government agrees, according to the report.

--The move comes after concerns that the deal could harm U.S. national security and jobs, with the steelworkers union strongly pushing back against the takeover, amid worries about layoffs and cuts.

--Biden has been reluctant to approve the deal, but could make a final decision by Jan. 7, 2025.

Full article at https://www.washingtonpost.com/business/2024/12/31/nippon-us-steel-biden-union/

Write to Write to Kailyn Rhone at kailyn.rhone@wsj.com

(END) Dow Jones Newswires

December 31, 2024 15:18 ET (20:18 GMT)

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Company, Inc.\n</p>\n</font>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK4212","symbol_name":"包装食品与肉类","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2500642987","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2500642987","pubTimestamp":1735676280,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"--Nippon Steel is making a last-ditch effort to win President Biden's approval for its $14.9 billion purchase of U.S. Steel, the Washington Post reports, citing people familiar with the matter.--In the new proposal, Nippon Steel promises not to cut U.S. Steel's production capacity for ten years unless the U.S. government agrees, according to the report.--The move comes after concerns that the deal could harm U.S. national security and jobs, with the steelworkers union strongly pushing back against the takeover, amid worries about layoffs and cuts.--Biden has been reluctant to approve the deal, but could make a final decision by Jan. 7, 2025.Write to Write to Kailyn Rhone at kailyn.rhone@wsj.com","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"BK4212":"包装食品与肉类","X":"美国钢铁","WASH":"华盛顿信托银行","NPSCY":"Nippon Steel Corporation","BK4520":"美国基建股","BK4516":"特朗普概念","BK4211":"区域性银行","BK4006":"钢铁","BK4588":"碎股","POST":"Post Holdings","BK4585":"ETF&股票定投概念"},"translate_title":"据《华盛顿邮报》报道，消息人士称，新日铁提出交易以获得美国钢铁公司的批准","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"NPSCY":0.9,"POST":1,"X":1,"WASH":1},"content_text":"--Nippon Steel is making a last-ditch effort to win President Biden's approval for its $14.9 billion purchase of U.S. Steel, the Washington Post reports, citing people familiar with the matter. \n\n\n  --In the new proposal, Nippon Steel promises not to cut U.S. Steel's production capacity for ten years unless the U.S. government agrees, according to the report. \n\n\n  --The move comes after concerns that the deal could harm U.S. national security and jobs, with the steelworkers union strongly pushing back against the takeover, amid worries about layoffs and cuts. \n\n\n  --Biden has been reluctant to approve the deal, but could make a final decision by Jan. 7, 2025. \n\n\n \n\n\n  Full article at https://www.washingtonpost.com/business/2024/12/31/nippon-us-steel-biden-union/ \n\n\n \n\n\n  Write to Write to Kailyn Rhone at kailyn.rhone@wsj.com \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  December 31, 2024 15:18 ET (20:18 GMT)\n\n\n  Copyright (c) 2024 Dow Jones & Company, Inc.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"1","news_tag":"corporation","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":true,"code":"91000000","status":"200"}}}