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U.S. extends deadline for Nippon Steel to abandon takeover to June 18

16 Comments

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16 Comments
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Makes sense: get some Trump tiny hand prints on it.

-5 ( +7 / -12 )

The more deadline time, the harder for moribund US steel industry to save itself..

-12 ( +2 / -14 )

Looking at the photo, I'm a bit dismayed why Nippon Steel (world leading steel maker) wants these antiquated assets. Must be USA market penetration. Huge makeover of the facility should be good for USA workers, no?

2 ( +9 / -7 )

nipppn steel offered $2.7 billion investment in upgrades, guaranteed wages, guaranteed pensions, no layoffs for 10 years if needed and no price increases without consultation with the government. shareholders and board of directors want it, but that’s not good enough though.

if they changed the name to trump steel and give the trump org shares, it would probably go through next year.

it’s a new world.

1 ( +6 / -5 )

""The acquisition plan was announced in December 2023. U.S. Steel was once a symbol of American economic prowess, but it has struggled to compete with foreign rivals.""

And here you have it Folks,

"" BUT Struggled to compete with Governments ( SUSIDISED ) Foreign Rivals "", sounds all familiar.

And this how you take over RIVAL.

-4 ( +2 / -6 )

Looking at the photo, I'm a bit dismayed why Nippon Steel (world leading steel maker) wants these antiquated assets. Must be USA market penetration. Huge makeover of the facility should be good for USA workers, no?

Uncle Sam LUCRATIVE CONTRACTS are the Holy Grail.

-3 ( +3 / -6 )

Nippon Steel should just build a new plant and end this Drama.

-1 ( +4 / -5 )

Boy that river water looks AWFUL.

-5 ( +2 / -7 )

Whenever I heard of US Steel, I always imagined some stunning and giant steel plant. This picture, though, looks awful. If that's representative of US Steel today, they should consider themselves lucky to have a buyer who is willing and able to invest.

-1 ( +3 / -4 )

TaiwaniIsNotChina makes the only relevant point here

-5 ( +3 / -8 )

Tariffs on Japanese steel coming in ten, nine, eight...

-1 ( +5 / -6 )

So....still waiting for the alternative that won't cost US taxpayers to fund a bailout.

Biden should be held accountable and explain what that alterative may be.

And if not, why he is willing to let US Steel be destroyed by Chinese competition.

-3 ( +3 / -6 )

Imagine you build a business that served the host nation for decade through good bad and wars and when you decide to sell the business with the support of the majority of the shareholders. The host nation say no for these reason. Ok we agree to not move off shore for 5 years and we guarantee no worker will be lay off for 5 years. The host nation still say no to the sell. Ok we have to lay off the whole force and sell off the our mine we brought last year to sweeten the deal and lay off the mines work force and you do realise that with the quality of the ore and coal we have that we can only supply the auto industry with rolls sheet steel and that Nippon Steel is planing to use their mine where the ore and coal which are of higher quality and produce the quality steel needed for ship building Industry and heavy construction industry and as well as the auto industry with roll sheet steel. Plus they are your best Allie in Asia where they allow your military bases to prevent China projecting into the Pacific ? Still no sale. Can we ask why. It is because it a security fret but really the majority of voter will never vote us in next election. Ok see you in court. Dumb Dumb Dumb.

-2 ( +2 / -4 )

What a tease.

0 ( +0 / -0 )

Biden should be held accountable and explain what that alterative may be.

He doesn't care and can't be held accountable. He's like a disgruntled AirBnB tenant who is trying to trash the place as much as he can before checking out.

0 ( +0 / -0 )

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