U.S. Steel shareholders have overwhelmingly approved the firm’s sale to Nippon Steel of Japan for $14.1 billion in cash, voicing unequivocal support for a combination that has drawn opposition from the Biden administration on economic and national security grounds.
FILE - U.S. Steel's Mon Valley Works Clairton Plant in Clairton, Pa., is shown on Monday, Feb. 26, 2024. U.S. Steel shareholders overwhelmingly approved the firm's sale Friday, Apri 12, 2024, to Nippon Steel of Japan for $14.1 billion in cash, voicing unequivocal support for a combination that has drawn opposition from the Biden administration on economic and national security grounds. – U.S.
More than 98% of the shares voted at a special investor meeting Friday approved the takeover, according to a preliminary count of ballots announced by Pittsburgh-based U.S. Steel.The transaction has raised concerns about what the sale could mean for unionized workers, supply chains and U.S. national security.to the deal, saying in March that the U.S. needs to “maintain strong American steel companies powered by American steelworkers.
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