US Steel CEO Is ‘Extremely Confident’ Nippon Deal Will Close in 2024

Bloomberg06-19

(Bloomberg) -- US Steel Corp. boss David Burritt is convinced Nippon Steel’s $14.1 billion takeover will proceed this year despite stiff opposition from union leaders and the Biden administration. ...

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Nvidia Becomes World’s Most Valuable Companyas AI Rally Steams Ahead. Stocks Rise as Bullish Nvidia Call Boosts AI Trade: Markets Wrap. “Nippon is clearly the right choice and I’m extremely confident that we’re going to be able to close the deal this year,” he said at an industry event in New York on Tuesday.Nippon Steel agreed to buy US Steel in December, but opposition from the United Steelworkers and President Joe Biden has left investors uncertain of the deal’s fate. Biden last month vowed to keep US Steel American-owned, in front of union workers ahead of November’s election.Japan is a great fit, he said. “They’re our friends. 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I Was Wrong.\n\n“Nippon is clearly the right choice and I’m extremely confident that we’re going to be able to close the deal this year,” he said at an industry event in New York on Tuesday.\nNippon Steel agreed to buy US Steel in December, but opposition from the United Steelworkers and President Joe Biden has left investors uncertain of the deal’s fate. Biden last month vowed to keep US Steel American-owned, in front of union workers ahead of November’s election.\nJapan’s top steelmaker recently sent Vice Chairman and Executive Vice President Takahiro Mori to Pittsburgh to meet with local staff and elected officials. It’s also dispatching technical teams to review US Steel mills as the firm assesses ways to convince union leaders and authorities of the deal’s merits.\nClosing the transaction is US Steel’s “top priority” and it will “create a bright future for our stakeholders,” Burritt said.\nJapan is a great fit, he said. “They’re our friends. They’re the ones we rely on in that Asian theater. This deal strengthens national security.”\nMost Read from Bloomberg Businessweek\n\nGoogle DeepMind Shifts From Research Lab to AI Product Factory\nCoke—and Dozens of Others—Pledged to Quit Russia. They’re Still There\nOnline Shopping Has Become a Giant Fake Product Machine\nDocuments Show How Musk’s X Plans to Become the Next Venmo\nTrump’s Planned Tariffs Would Tax US Households, Economists Warn\n\n©2024 Bloomberg L.P.","kind":null,"is_publish_news":true,"is_publish_highlight":false,"is_publish_live":null,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.24.2","shortVersion":"4.24.2","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2444466219"}