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Opinion: Biden Blew It With US Steel Move
Opinion: Biden Blew It
With US Steel Move
OPINION
Jan 7, 2025 3:59 PM CST

Opinion: Biden Blew It With US Steel Move

Catherine Rampell writes that he hurts steelworkers by appeasing their union leaders

(Newser) - President Biden describes himself as the most "pro-union president" in history, but economics columnist Catherine Rampell writes that he betrayed union workers by blocking Nippon Steel's acquisition of US Steel . What's unusual here is that by moving against the Japanese company, Biden gave the United Steelworkers union...

US Steel, Nippon React to Biden Decision With a Lawsuit

They contend the decision was unfounded, and process was rigged by a rival and union boss

(Newser) - Nippon Steel and US Steel filed a federal lawsuit challenging a Biden administration decision to block Nippon's proposed $15 billion acquisition of the Pittsburgh company and said that the head of United Steelworkers union and a rival steelmaker worked together to scuttle the deal. Biden said Friday that US...

Biden Blocks Sale of US Steel to Nippon

President pushes back against takeover bid by Japan's Nippon Steel to scoop up US Steel

(Newser) - President Biden has long expressed his disapproval for a deal in which Japan's Nippon Steel scoops up the iconic US Steel, and this week he made that disapproval official. In a Friday morning statement, the commander in chief rebuffed the proposed $14 billion-plus deal, noting that "we need...

Sale of US Steel to Japanese Firm Clears Major Hurdle

Board rules in favor of US Steel in union dispute

(Newser) - An arbitration board has cleared the way for the acquisition of US Steel by Nippon Steel to proceed. The board, jointly chosen by US Steel and the United Steelworkers union, ruled in favor of US Steel, saying terms of the successorship clause in its basic labor agreement had been met,...

US Steel Warns Its Sale Had Better Go Through

CEO says plants will close, headquarters will move south from Pittsburgh if Nippon deal fails

(Newser) - You can count President Biden , former President Trump, and Vice President Kamala Harris as being in agreement on at least one thing—all are against the proposed sale of US Steel to a decidedly non-US steelmaker, Japan's Nippon Steel. But as the Wall Street Journal reports, US Steel CEO...

Shaky US Steel Sale Wins Backing of Shareholders

Opponents of Nippon deal include presidential candidates, unions

(Newser) - The deal's opponents include union leaders and the two major candidates for president in the November election, but US Steel's shareholders nevertheless voted overwhelmingly Friday to sell to Nippon Steel for a package worth $14.1 billion . If the sale goes through, investors would receive $55 in cash...

Biden Urges 'Serious Scrutiny' of US Steel Sale After Outcry

President suggests acquisition reviewed for national security implications

(Newser) - With the deal facing quick opposition from congressional members of both parties and the United Steelworkers union, Biden administration officials said Thursday that the president believes government regulators should take a close look at the proposed acquisition of US Steel. The company's sale, to Japan's Nippon Steel in...

Japan's Nippon Steel Scoops Up US Steel for $14B

New combined company will be among top 3 steel-producing companies in the world

(Newser) - US Steel, the Pittsburgh steel producer that played a key role in the nation's industrialization, is being acquired by Nippon Steel in an all-cash deal valued at approximately $14.1 billion. The transaction is worth about $14.9 billion when including the assumption of debt. The combined company will...

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