8,643.88 TRY BIST 100 BIST 100
4.87 CNY CNY CNY
34.34 USD USD USD
37.42 EUR EUR EUR
0.13 CNY CNY/EUR CNY/EUR
45.07 TRY Interest Interest
75.11 USD Fossil Oil Fossil Oil
32.50 USD Silver Silver
4.45 USD Copper Copper
102.15 USD Iron Ore Iron Ore
374.00 USD Shipbreaking Scrap Shipbreaking Scrap
3,026.19 TRY Gold (gr) Gold (gr)

U.S. Steel and Nippon Steel merger receives international clearance, awaits U.S. decision

U.S. Steel Corp and Japan's Nippon Steel have successfully obtained all necessary international approvals for their proposed $14.9 billion merger.

U.S. Steel and Nippon Steel merger receives international clearance, awaits U.S. decision

The deal, announced last December, received the green light from regulators in the European Union, Mexico, Serbia, Slovakia, Türkiye, and the United Kingdom. However, the merger is still pending approval in the United States, where it faces significant hurdles including scrutiny from the Department of Justice and political opposition from President Joe Biden, who favors keeping U.S. Steel under American ownership.

The merger has stirred concerns among stakeholders, particularly the United Steelworkers union, which fears potential job losses. In response, Nippon Steel has committed to honoring existing union agreements and plans to relocate its U.S. headquarters to Pittsburgh, the current base of U.S. Steel.

The companies remain optimistic about finalizing the deal in the second half of this year, buoyed by support from U.S. Steel's shareholders who endorsed the merger in April, aiming to help Nippon Steel achieve its goal of expanding its global crude steel capacity to 100 million metric tons.

Comments

No comment yet.

Only +plus subscribers can access this content.

SUBSCRIBE now to share your thoughts on the markets and get more comments.
SUBSCRIBE If you already have an account Sign In

Most read news

Thyssenkrupp Steel Europe plans to renovate Duisburg plant

Tuesday, November 5, 2024

Türkiye's iron and steel export value was 7.8 billion USD in January-September period

Tuesday, November 5, 2024

European Commission approves EUR 724 million in funding towards Denmark

Tuesday, November 5, 2024

Indonesia's coal production targets under threat

Tuesday, November 5, 2024

AM/NS India is set to develop one of India’s most substantial steel projects

Monday, November 4, 2024
Follow List
Expand
Your watch list is empty

Add your favorite commodities for quick access and don't miss the latest price change news.


There are no news categories you follow
Edit Notification Preferences
E-bulletin subscription
Sign up to receive the latest news and daily iron prices by e-mail and sms
Become a Plus Subscriber Now!
Try it free for 3 days!
Subscribe Now
Neutral Prices
Be informed
Provincial Iron Prices
Comments and Analysis
Subscribe Now