Is the Nippon Steel bid dead? Here’s the latest as U.S. Steel’s stock plunges again.

[mountaineer]

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
Marketwatch

Nippon 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!

[mountaineer]

Nope, not dead.

Pittsburgh-area steelworkers excited to hear Trump talk about U.S. Steel and Nippon Steel partnership
By Ricky Sayer
May 30, 2025 / 5:43 PM EDT / CBS Pittsburgh

https://www.cbsnews.com/pittsburgh/news/pittsburgh-area-steelworkers-react-partnership-u-s-steel-nippon-steel/

[mountaineer]

 Speaking to steelworkers in Pittsburgh, President Trump announces he is raising tariffs on steel imports to 50%.

https://twitter.com/CollinRugg/status/1928575254533910641

[Lando Lincoln]

I have a lifetime visitor’s pass to US Steel. The physical size of those plants are incredible. Furnace #5 at Gary, IN produces granulated blast furnace slag. From there, they haul the slag to in-plant stockpiles 5 miles away - and you never leave the plant. But wow, are they depressing. Everything, and I mean everything including the workers are stained a rust grey/brown.

[Lando Lincoln]

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
MarketwatchBonchie
@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!

And steel is a vital national security industry.

[BobfromWB]

Types of steel not made in the US and will be subject to 47's increased tariffs. Auto parts hardest hit. Certain grades of stainless steel and other alloy steels that need precise control over their composition and manufacturing processes might not be produced domestically due to the high costs and complexities involved.

Stainless Steel: While the US produces stainless steel, certain specialized grades with unique properties might be imported because of the specific alloying elements required.

High-End Alloy Steels: These are often imported due to the need for precise control over the manufacturing process and the specific alloying elements used.

Certain Grades of Specialty Steels: Some specialty steels with specific mechanical properties or corrosion resistance might be imported because of the specialized processes required for their production.