Is the Nippon Steel bid dead? Here’s the latest as U.S. Steel’s stock plunges again.U.S. Steel’s stock falls 11% premarket after Trump speaks out against the takeover bid from Japan’s Nippon Steel
By Steve Gelsi
Published: April 10, 2025 at 7:43 a.m. ET
MarketwatchNippon Steel’s $15 billion bid to acquire U.S. Steel, launched in 2023, may finally be dead after President Donald Trump said he’d rather see the company remain under U.S.-based ownership.
The comments sent shares of U.S. Steel down 11% in premarket trading on Thursday.
“We don’t want it to go to Japan or any other place, and we’re working with them,” Trump said on Wednesday.
Trump has said he would favor a minority stake by Japan’s Nippon Steel instead of an outright purchase of U.S. Steel, which was once the world’s largest producer of steel. ...
Bonchie
@bonchieredstate
This is where unions end up knee-capping themselves.
Nippon Steel is the only company willing to fully save these mills. And having an anti-China ally own it over it closing and strengthening China’s steel hand is the best outcome.
8:16 AM · Apr 10, 2025
As I said on a previous thread about Nippon Steel/USS (which I can't find because the search feature is turned off), Japanese ownership of a steel mill in my area has been very positive. They kept alive a mill and an industry that otherwise would have died by now. And, as Bonchie notes,
they're not China!
