Reported 1 day ago
U.S. President Donald Trump endorsed Nippon Steel's $14.9 billion acquisition of U.S. Steel, leading to a 21% spike in U.S. Steel's shares. Trump highlighted that the partnership would create jobs and inject $14 billion into the economy. This merger, crucial for Nippon Steel's expansion amidst declining domestic demand, would make it the world's third-largest steel producer. The deal is significant politically as it impacts job security in Pennsylvania, and despite previous opposition, recent developments suggest a favorable outcome for investors.
Source: YAHOO