Sunday, 19 January 2025

Focus on Nippon Steel Corporation

The deal worth $14.9 billion including debts is being reviewed in Washington (AFP)
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Nippon Steel slams ‘inappropriate’ politics in US deal

Nippon Steel issued the statement in response to a news report suggesting that President Biden might block its acquisition of US Steel.

FILE PHOTO: A United Steelworkers sign is seen outside the Great Lakes Works United States Steel plant in River Rouge, Michigan U.S., September 16, 2024.  REUTERS/Rebecca Cook/File Photo
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Biden plans to block Nippon Steel purchase of US Steel, Bloomberg News reports

President Biden plans to block Nippon Steel's $15B U.S. Steel takeover on national security grounds, Bloomberg reports.

FILE PHOTO: Nippon Steel logo is displayed at the company's headquarters in Tokyo, Japan April 1, 2024.  REUTERS/Issei Kato/File Photo
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Nippon Steel committed to U.S. Steel takeover, aims to close in Dec, says executive

Nippon Steel remains committed to its $15B U.S. Steel acquisition, confident of closing by year-end despite U.S. opposition.

Embattled US Steel has argued that it needs the Nippon deal to ensure sufficient investment in its Mon Valley plants in Pennsylvania (AFP)
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Trump says will ‘block’ Nippon Steel from taking over US Steel

Trump vows to block Nippon Steel's $14.9B US Steel takeover, citing protectionism, as Biden review nears conclusion.

An aerial view shows Nippon Steel East Nippon Works Kimitsu Area in Kimitsu, east of Tokyo, Japan in this photo taken by Kyodo November 7, 2023. Kyodo/via REUTERS
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Japan PM Ishiba urges Biden to approve Nippon-US Steel deal, sources say

Japanese PM Ishiba urges Biden to approve Nippon Steel's acquisition of U.S. Steel, highlighting its benefits to U.S.-Japan ties.

FILE PHOTO: Nippon Steel logo is displayed at the company's headquarters in Tokyo, Japan April 1, 2024.  REUTERS/Issei Kato/File Photo
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Nippon Steel not to import from overseas mills in bid to save U.S. Steel deal

Nippon is looking to close its $14.9 billion deal for U.S. Steel by the end of the year before President-elect Trump enters the...

FILE PHOTO: A worker stacks steel pipes in the western Indian city of Ahmedabad November 4, 2014.  REUTERS/Amit Dave/File Photo
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Thaw in China ties unlikely to deter India’s plans for steel tariffs, source says

China's surging steel exports spark complaints from a growing number of countries, with some citing harm to domestic manufacturers.

U.S. President Joe Biden delivers remarks on climate at the Bloomberg Global Business Forum, on the sidelines of the 79th session of the United National General Assembly (UNGA) in New York City, U.S., September 24, 2024. REUTERS/Elizabeth Frantz/File Photo
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Biden still opposes Nippon Steel deal’s bid for US Steel

Biden says his opposition to Nippon's bid for U.S. Steel hasn't changed despite a decision by his administration to extend a national security...

FILE PHOTO: Nippon Steel logo is displayed at the company's headquarters in Tokyo, Japan April 1, 2024.  REUTERS/Issei Kato/File Photo
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US Steel says arbitration board rules in favor of Nippon Steel’s $14.9 billion buyout deal

An arbitrator ruled in favor of Nippon Steel's $14.9B U.S. Steel buyout, but the union remains opposed to the deal.

FILE PHOTO: Nippon Steel logo is displayed at the company's headquarters in Tokyo, Japan April 1, 2024.  REUTERS/Issei Kato/File photo
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Nippon Steel to sell $211 million in assets to manage debt amid US Steel deal

Nippon Steel agreed with three Japanese banks for $16bn in loans to fund the acquisition of U.S. Steel, now is facing political opposition.

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