Reported about 1 month ago
Unionized steelworkers are leveraging politics to prevent the takeover of US Steel by Japan's Nippon Steel, fearing job losses and factory closures. Amidst the political landscape with upcoming elections, prominent figures including President Biden and Vice President Harris oppose the deal, likely to secure votes in Pennsylvania. However, after the elections, the union's influence may wane, potentially paving the way for the completion of the purchase if Nippon can assure job protection and amend the deal accordingly.
Source: YAHOO