Reported 3 days ago
Nippon Steel Corp. has made a proposal to the US government, offering a veto over any potential reduction in US Steel Corp.’s production capacity as part of its acquisition bid, prompting a significant surge in US Steel's stock price. This comes amid concerns from US regulators about the potential impact of the takeover on American steel production. Despite a $14.1 billion offer and rising shares, President Biden's potential opposition looms as he reviews the matter.
Source: YAHOO