The deal, valued at $14.1 billion, promises United States Steel shareholders $55 per share|USS|@USS_Investors|X
Shareholders of the United States Steel have voted to sell the company to Japan’s Nippon Steel for $14.1 billion despite union opposition and regulatory hurdles.
The deal promises shareholders $55 per share—an increase from last year’s stock price.However, the United Steelworkers union doubts Nippon Steel’s commitment to workers’ interests. Concerns about national security and job protection have sparked political debate.
President Joe Biden opposes foreign ownership of US Steel but hasn't confirmed blocking the deal. Regulatory reviews are ongoing.