08:11 AM EDT, 04/01/2024 (MT Newswires) -- United States Steel ( X ) said Friday its shareholders have been advised by proxy advisory firms Institutional Shareholder Services and Glass Lewis to vote in favor of Nippon Steel's pending acquisition of the company.

In December, US Steel agreed to be acquired by the Japanese steel giant for $14.1 billion in cash, plus the assumption of debt.

Also Friday, the Alliance for Automotive Innovation sent a letter to the National Economic Council objecting to a proposed alternative acquisition of US Steel by steelmaker Cleveland-Cliffs ( CLF ) . The White House said it is opposed to US Steel being acquired by a foreign company.

The automakers' alliance, which includes Ford (F), GM (GM), Toyota ( TM ) , Honda ( HMC ) , and Volkswagen, warned that if Cleveland-Cliffs ( CLF ) acquired US Steel, the combined company would have "total or near total control of steel manufacturing in the US."

A special meeting for shareholders to vote on Nippon Steel's proposed acquisition of US Steel will take place April 12.

Representatives for Cleveland-Cliffs ( CLF ) did not immediately respond to a request for comment from MT Newswires.

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