By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . You can opt-out at any time by visiting our Preferences page or by clicking "unsubscribe" at the bottom of the email.Access your favorite topics in a personalized feed while you're on the go. download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read previewAs the fight over US Steel ramped up this week, its top US steelmaking competitor is now condemning the com ...

The company's deal to be acquired appears headed for the chopping block.A proposed $15 billion acquisition of U.S. Steel (X) is reportedly set to be blocked by U.S. lawmakers. Investors reacted to the news by heading for the exits, sending U.S. Steel shares down about 20% for the week as of midday Thursday, according to data provided by S&P Global Market Intelligence.No deal?U.S. Steel is the biggest remaining legacy of the nation's Industrial Revolution-era steel industry. The company was put in play last ...

Key TakeawaysPresident Biden reportedly is planning to block the proposed $14 billion acquisition of U.S. Steel by Nippon Steel in Japan.The deal has been investigated by the Committee on Foreign Investment in the United States (CFIUS) for national security concerns.U.S. Steel's CEO warned that plants will close if the deal collapses. President Joe Biden intends to block the proposed $14 billion acquisition of U.S. Steel (X) by Japanese firm Nippon Steel, according to a Washington Post report, causing volat ...

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Key TakeawaysU.S. Steel's CEO said the company would have to close plants and might move its headquarters out of Pittsburgh if the Nippon Steel acquisition falls through.David Burritt told the Wall Street Journal the company needs the planned infusion of cash Nippon has promised.Both leading U.S. presidential candidates have said they oppose the acquisition. The CEO of U.S. Steel (X) warned that the company would have to close steel plants and likely move its headquarters from Pittsburgh if the $14.9 billi ...

US Steel’s boss warned that the company would shut down mills and move its headquarters out of Pittsburgh if its planned sale to Nippon Steel is blocked.CEO David Burritt said US Steel is banking on a $3 billion investment from Nippon to survive as part of a nearly $15 billion acquisition. The multi-billion dollar investment will help the steel company avoid making job cuts, he said. 6 US Steel’s CEO said the company would shut down mills and move its headquarters out of Pittsburgh if its planned sale to ...

Key TakeawaysOn a presidential campaign stop in Pittsburgh, Vice President Kamala Harris said she opposes Nippon Steel's acquisition of U.S. Steel.Harris reiterated a statement in March from President Biden arguing that the company should remain in American ownership.U.S. Steel agreed last December to be purchased by Japan's Nippon Steel for $14.9 billion. U.S. Steel (X) shares tumbled Tuesday, a day after Democratic presidential candidate and Vice President Kamala Harris said that she supported the White H ...

United States Steel Corporation (NYSE:X) stock is sliding today, last seen down 3.9% to trade at $36.43. The drop comes after statements from U.S. Vice President Kamala Harris during a Labor Day rally in front of union members in Pittsburgh, Pennsylvania, where she opposed the planned sale of the company to Japan-based Nippon Steel. The Democratic presidential candidate wants the American institution -- the world's first billion dollar corporation -- to remain in domestic hands. The equity has yet to recove ...

ToplineVice President Kamala Harris expressed her opposition to Japanese firm Nippon Steel’s $15 billion bid to take over U.S. Steel at a campaign event in Pittsburgh on Monday, echoing President Joe Biden’s strong disapproval of the deal.Democratic presidential nominee, U.S. Vice President Kamala Harris speaks during a campaign event at ... [+] in Pittsburgh, Pennsylvania.Getty Images Key FactsSpeaking at a campaign event in Pittsburgh, Harris called U.S. Steel a “historic American company” and said it was ...

United States Steel Corporation (X) will receive additional project investments from Nippon Steel Corporation at its Mon Valley Works and Gary Works. This is subject to the completion of Nippon Steel’s pending acquisition of X and the receipt of any required regulatory approvals.The growth investments announced by Nippon Steel will extend the production life of two of U.S. Steel's key integrated assets while improving steel supply security for American manufacturers. The investments will involve significant ...