President Joe Biden has voiced his opposition to Nippon Steel buying U.S. Steel, but the federal government appears to be in no hurry to block the deal.
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Read full article: Paxton’s efforts to block Bexar County voter registration program takes center stage at court hearing MondayWhite House press secretary Karine Jean-Pierre speaks during the daily briefing at the White House in Washington, Thursday, Sept. 12, 2024. White House officials earlier this month did not deny that the president would formally block the acquisition.
The proposed takeover carries some heavy political weight in Pennsylvania, a state that both Vice President Kamala Harris and Donald Trump view as a must-win in November’s presidential election. U.S. Steel is headquartered in Pittsburgh. Biden, Harris and Trump have all come out against the deal. Biden is close with the United Steelworkers, the labor union whose members work for U.S. Steel and worry about the loss of job protections. Supporters of the merger note that U.S. Steel's older mills could be shuttered without the improved corporate balance sheet that a merger could produce.that the deal would be blocked by the federal government, only to then report on Friday that any ruling on the merger would be delayed.
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