The Washington Post on Nostr: White House officials signal delay in U.S. Steel takeover decision ========== White ...
White House officials signal delay in U.S. Steel takeover decision
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White House officials indicate President Joe Biden will delay blocking Nippon Steel's $14.9 billion acquisition of U.S. Steel; concerns arise over political and economic consequences of halting the deal; internal deliberations have slowed since last week; White House spokeswoman Saloni Sharma states no imminent announcement was planned; U.S. Steel shares rose over 12% amid optimism about the deal; United Steelworkers union opposes the acquisition, fearing job losses; Biden's opposition aligns with the union's stance; significant pushback from Pennsylvania Democrats and local officials; U.S. Steel CEO David Burritt warns of 'unavoidable consequences' if the deal collapses; $2.7 billion investment from Nippon Steel at stake; CFIUS review ongoing, chaired by Treasury Secretary Janet L. Yellen; political implications for the 2024 election highlighted.
#UsSteel #NipponSteel #Biden #Acquisition #Pennsylvania #Economy #Politics #Labor #Union #Cfius
https://www.washingtonpost.com/business/2024/09/13/biden-nippon-steel-deal-election/
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White House officials indicate President Joe Biden will delay blocking Nippon Steel's $14.9 billion acquisition of U.S. Steel; concerns arise over political and economic consequences of halting the deal; internal deliberations have slowed since last week; White House spokeswoman Saloni Sharma states no imminent announcement was planned; U.S. Steel shares rose over 12% amid optimism about the deal; United Steelworkers union opposes the acquisition, fearing job losses; Biden's opposition aligns with the union's stance; significant pushback from Pennsylvania Democrats and local officials; U.S. Steel CEO David Burritt warns of 'unavoidable consequences' if the deal collapses; $2.7 billion investment from Nippon Steel at stake; CFIUS review ongoing, chaired by Treasury Secretary Janet L. Yellen; political implications for the 2024 election highlighted.
#UsSteel #NipponSteel #Biden #Acquisition #Pennsylvania #Economy #Politics #Labor #Union #Cfius
https://www.washingtonpost.com/business/2024/09/13/biden-nippon-steel-deal-election/