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Market Chatter: Nippon Asks United Steelworkers to Negotiate Over US Steel Acquisition; to Sell Posco Stake
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Market Chatter: Nippon Asks United Steelworkers to Negotiate Over US Steel Acquisition; to Sell Posco Stake
Sep 24, 2024 10:09 PM

07:31 AM EDT, 09/24/2024 (MT Newswires) -- Nippon Steel is asking the leadership of the United Steelworkers to negotiate in good faith over its bid to acquire US Steel (X), Reuters reported Tuesday, citing a letter from the Japanese company.

"We just need USW leadership to come to the table. I am hopeful they will do so in the very near future," Vice Chairman Takahiro Mori said in a letter, according to Reuters.

The United Steelworkers did not immediately reply to MT Newswires' request for comment.

The company also said it will sell its 2.9 million-share stake in South Korean steelmaker Posco Holdings.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Price: 38.38, Change: -0.23, Percent Change: -0.60

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