JOURNAL ARTICLE

Nippon Steel Looks to Woo US Union With Extra $1.3 Billion.

  • Published In: Bloomberg.com, 2024. P. N.PAG 1 of 3

  • Database: Business Source Ultimate 2 of 3

  • Authored By: Munshi, Millie 3 of 3

Abstract

Nippon Steel Corp. plans to invest an additional $1.3 billion in plants operated by United States Steel Corp. as part of its $14.1 billion acquisition of US Steel. The Japanese company hopes that these investments will help secure union support for the takeover bid, which has faced opposition from President Joe Biden and Donald Trump. The Mon Valley Works and Gary Works plants, which have a long history and are typically unionized, will receive the additional funding. The United Steelworkers union, however, remains opposed to the deal, citing concerns about contractual obligations, supply chains, and national security. [Extracted from the article]

Additional Information

  • Source:Bloomberg.com. 2024/08, pN.PAG
  • Document Type:Article
  • Subject Area:History
  • Publication Date:2024
  • Accession Number:179389840
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