About this content About Emily Jarvie Emily began her career as a political journalist for Australian Community Media in Hobart, Tasmania. After she relocated to Toronto, Canada, she reported on business, legal, and scientific developments in the emerging psychedelics sector before joining Proactive in 2022. She brings a strong journalism background with her work featured in newspapers, magazines, and digital publications across Australia, Europe, and North America, including The Examiner, The Advocate, ...

US Steel and Japan’s Nippon Steel on Monday sued the US government in a bid to revive their $14 billion merger after President Biden blocked the deal last week – a move US Steel’s CEO called a “shameful” capitulation to a union boss.The lawsuit, filed in a federal court in Washington, accused Biden and senior administration officials of corrupting the deal’s review process, and harming American steel workers by blocking the deal.“Nippon Steel and US Steel are disappointed to see such a clear and improper ex ...

美国彼得森国际经济研究所高级研究员加里·赫夫鲍尔此前接受新华社记者采访时说，日本制铁公司技 术优于美国钢铁公司，收购案将改善后者长期发展前景，带来更多就业机会。 《纽约时报》指出，拜登作出阻止交易的决定，背离了美国开放的投资文化，可能对美国经济产生广泛 影响。 主管外资审查的美国外国投资委员会此前表示，担忧相关交易会导致美国钢铁产量下降，对国家安全构 成威胁。日本制铁公司则表示，这一担忧没有事实依据，不符合逻辑，充满"推测和假设"。 美国钢铁公司曾呼吁美国政府批准交易。这家企业在一份声明中表示，收购案是确保企业、员工、社区 和客户长久繁荣的途径，"明显增强美国国家安全和经济安全"。 新华社华盛顿1月3日电（记者熊茂伶）美国白宫3日发表声明说，美国总统拜登正式阻止日本制铁公司 收购美国钢铁公司。《纽约时报》说，拜登作出的决定背离了美国开放的投资文化。 拜登在声明中说，由本土企业拥有和运营的强大钢铁产业是"国家安全的重要优先事项"。声明说，日本 制铁公司收购美国钢铁公司将"使美国最大的钢铁生产商之一置于外国控制之下，给美国国家安全和关 键供应链带来风险"。 2023年12月，日本制铁公司宣布计划以149亿美元收购 ...

Deal Overview - President Joe Biden blocked Nippon Steel's $14 billion acquisition of US Steel, raising questions about the future of the steelmaker [1] - The companies vowed to continue pursuing the acquisition and protect their legal rights, aiming to deliver $55 00 per share for US Steel stockholders [5][9] Political and Regulatory Challenges - The deal faced opposition from politicians on both sides, citing national security concerns and potential job losses, with the United Steelworkers union also opposing the deal [2] - CFIUS failed to reach a consensus on the deal's security risks, leading to Biden's decision, which the companies claim was politically influenced and lacked due consideration of mitigation proposals [3][5] Potential Legal and Financial Outcomes - US Steel could sue Nippon for failing to sway regulators, similar to Albertsons' approach after its $25 billion merger with Kroger was blocked, though a joint statement suggests this is unlikely [4] - If the deal fails, US Steel would receive a $565 million payout from Nippon, which may not address the underlying issues that prompted the sale [6] Alternative Acquisition Scenarios - Cleveland-Cliffs previously offered to acquire US Steel in 2023, a proposal that faced less opposition from politicians and workers, and its CEO has expressed continued interest [7][9] - US Steel could be sold in parts, as analysts suggest it is unlikely for any single steel entity to acquire the entire company [8]

United States Steel Corp X is caught in a whirlwind of challenges. From technical bearish signals to a major acquisition roadblock, the stock is under pressure. Yet, analysts believe opportunities may still exist for investors willing to ride out the storm.Bearish Signals Dominate X Stock ChartsUS Steel's stock performance has been disappointing, with a 36.74% decline over the past year, compounded by 22.76% and 19.64% drops in six months and the past month, respectively. Chart created using Benzinga ProKe ...

Editor's note: This story has been updated with comments from X and Nippon Steel in paragraph six.President Joe Biden announced on Friday his decision to block the $14.9 billion acquisition of United States Steel Corp. X by Japan's Nippon Steel Corp NPSCY, citing foreign ownership would threaten national security and undermine critical supply chains.In a statement released by the White House, Biden emphasized the critical role of steel in supporting the nation's infrastructure, defense, and industrial base. ...

President Joe Biden blocked Japan-based Nippon Steel's $14.9 billion buyout of United States Steel Corp (NYSE:X). Biden highlighted national supply chains risks associated with placing one of the country's biggest steel producers under foreign control. At last glance, X is down 7.9% at $30.01.The shares are on track for their third loss in the last four sessions, extending their 34.5% year-over-year deficit after running into overhead pressure at the 20-day moving average. While a familiar floor at $30 is o ...

President Joe Biden blocked the $14 billion takeover of US Steel by a Japanese rival.The deal would create "risk for our national security and our critical supply chains," the president said.President-elect Trump had also expressed opposition to the Nippon Steel deal.Shares in US Steel fell about 8% in premarket trading on Friday after President Joe Biden blocked a $14 billion takeover by Nippon Steel.Advertisement In a statement, Biden said a committee of national security and trade experts had found that ...

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CLAIRTON, PENNSYLVANIA - MARCH 20: A general view of the exterior of the U.S. Steel Clairton Coke ... [+] Plant, on March 20, 2024 in Clairton, Pennsylvania. Nippon Steel has said that it would relocate its U.S. headquarters from Houston to Pittsburgh, where U.S. Steel (X.N) is located, if their acquisition deal goes through. (Photo by Jeff Swensen/Getty Images)Getty ImagesNever turn down capital when it’s offered to you. The previous axiom is easily as old as business.The wise refuse what’s precious precis ...