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Corporate News

Biden told to reconsider US$14bil US Steel deal

Hard choice: A US Steel facility in Pennsylvania. The company faces the prospect of being broken apart and sold in parts if Nippon Steel’s takeover fails. — Bloomberg

WASHINGTON: Nippon Steel Corp is mounting a last-ditch push to muster support for its US$14.1bil takeover of United States Steel Corp (US Steel), a deal opposed by President Joe Biden, vice-president Kamala Harris and ex-president Donald Trump.

Biden and Harris want the company to remain domestically owned while Trump has flatly said he’d block it.

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USSteel , NipponSteel , NationalSecurity , SteelIndustry , USWUnion , InvestmentPledges , PennsylvaniaJobs , CorporateTakeover

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