Tag: Nippon Steel

The future of U.S. Steel remains unclear, but the proxy fight for control of the company is heating up. Shareholders will cast their votes on the company's future at the annual meeting in May.

The government said it hopes to reach an agreement with the two companies outside of the courts, according to a filing last week.

The investment firm seeking to oust U.S. Steel’s leadership has asked the steelmaker to schedule its annual shareholder meeting after June 18. That’s the deadline set by the US government for USS and Nippon Steel to unwind their nearly $15-billion merger deal. Ancora Holdings Group sent a letter dated Feb. 27 to board members of […]

Japan’s Prime Minister Shigeru Ishiba said on Monday that former President Joe Biden’s decision to block Nippon Steel’s buy of U.S. Steel was “unjust political interference,” according to a report in Reuters. This comes after another Reuters report on Friday saying that President Trump would not object to Nippon taking a minority stake in the […]

Nippon Steel has agreed to “invest heavily in U.S. Steel as opposed to own it,” President Donald Trump said on Friday during a press conference with Japanese Prime Minister Shigeru Ishiba. U.S. Steel is “a very important company” and was once “the greatest company in the world”. Of potential foreign ownership of the Pittsburgh-based steelmaker, Trump said, “the concept, psychologically, not good."

The union says the suit is "a frivolous and unsubstantiated attack on our union simply for exercising our First Amendment rights."

Together, Nippon Steel, Nippon Steel North America, and U.S. Steel announced the filing of their opening brief in their litigation to invalidate the government’s decision to block their announced merger. The brief lays out “how President Biden made a predetermined decision for political reasons, not national security, causing CFIUS to engage in a sham review […]

Ancora has nominated nine board members to U.S. Steel's 12-member board and seeks to install Alan Kestenbaum as CEO to replace David Burritt.

Nippon Steel’s litigation against the US government is set to begin in early February, according to a report by Japan’s Kyodo News Agency. Nippon will file its opening brief on Feb. 3. And both parties will conclude their claims by March 17 in the US Court of Appeals for the District of Columbia Circuit, Kyodo […]

He said a new entity would operate under the U.S. Steel name and would retain its Pittsburgh headquarters.

Cleveland-Cliffs could be teaming up with Nucor to make a play for U.S. Steel, according to an article at CNBC.

The Biden administration has pushed back until June the date for which Nippon Steel must unwind its $14.9-billion dollar deal for Pittsburgh-based U.S. Steel, the companies said on Saturday.

Nippon Steel and U.S. Steel have filed two lawsuits, one against the US government and the other against Cleveland-Cliffs and the United Steelworkers (USW) union's leader.

As one of my university professors once said (and it’s stuck with me for half a century), “Change is the only permanency.” On Friday, President Biden acted to block the acquisition of United States Steel by Nippon Steel Corp. of Japan, without acknowledging the changes that have already occurred in the steel industry, and which are likely to increase. After more than a year of raging debate, it seems that nobody was convinced by arguments. Nippon’s worker-centered concessions, including safeguarding the jobs of U.S. Steel’s unionized workers and committing to more than $2 billion in investments for the aging plants at Gary, Ind., and the Mon Valley complex in Pennsylvania, were not mentioned in the president’s announcement on Friday.

The chief executive of U.S. Steel has come out against President Biden’s decision to block the USS/Nippon Steel deal, calling it “corrupt.”

President Joe Biden has blocked Nippon Steel's proposed buy of Pittsburgh-based U.S. Steel, citing national security reasons.

The Biden administration is facing a deadline on the Nippon Steel/U.S. Steel deal by Tuesday, Jan. 7, according to a Dec. 31 article in The Washington Post.

Japan’s Nippon Steel says it has achieved the world’s highest reduction in CO2 emissions to date by using heated hydrogen instead of coal to reduce iron ore in a blast furnace.

Will Santa bring gifts for the leadership, employees, and shareholders of U.S. Steel and Nippon Steel, and lumps of coal for USW leadership and politicians opposed to the deal?

Nippon Steel and a Japanese trading company have entered an agreement to buy a 49% interest in a Champion Iron ore project in Canada.

Cracks have formed in what has been presented as the Biden administration’s united front against Nippon Steel’s play for U.S. Steel. A report from the Financial Times said parts of the administration are at odds on the deal.

Nippon Steel addressed a host of objections by the United Steelworkers (USW) related to the Japanese steelmaker’s proposed buy of Pittsburgh-based U.S. Steel.

“I am totally against the once great and powerful U.S. Steel being bought by a foreign company, in this case Nippon Steel of Japan,” Trump said in a post on Truth Social on Monday.

Japanese Prime Minister Shigeru Ishiba has asked that President Biden approve Nippon Steel’s $14.9-billion proposed offer to buy Pittsburgh-based U.S. Steel, according to a report in Reuters.

Nori, a top Nippon Steel official, met on Tuesday with Pennsylvania's governor, to discuss its proposed acquisition of U.S. Steel.

Nippon Steel says it respects the US Department of Commerce’s findings in administrative reviews despite the agency recently assigning the Japanese steelmaker a higher dumping margin.

Nippon Steel has affirmed that if its $14.9-billion bid for U.S. Steel proves successful, the Japanese steelmaker will not import overseas-produced slabs to the US.

Commerce determined a significant dumping margin for hot-rolled steel imports from Japan's Nippon Steel.

Japan’s Nippon Steel still anticipates closing on its proposed deal to acquire U.S. Steel by the end of 2024.

Former President Donald Trump repeated his disapproval of U.S. Steel’s sale to a foreign owner in a campaign speech on Sunday.