Biden's decision to block Nippon Steel takeover creates uncertainty for U.S. Steel workers
Sunday, January 5th 2025, 5:06:25 am
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By blocking a Japanese company’s takeover of U.S. Steel, President Joe Biden said he was protecting good jobs in the American heartland. In making its nearly $15 billion bid for the storied Pittsburgh-based steelmaker, Nippon Steel had promised to invest $2.7 billion in U.S. Steel’s aging blast furnace operations in Gary, Indiana, and Pennsylvania’s Mon Valley.
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