12:53 PM EST, 11/18/2024 (MT Newswires) -- United States Steel ( X ) workers are being guaranteed by Nippon Steel leadership that the steel produced at its mills oversees will not be shipped to North America, Bloomberg reported Monday.

This is Nippon's latest effort to win support from unionized employees for its proposed $14.1 billion takeover of US Steel. The steel imports to US threaten local production and operations.

In a letter Monday to United Steel union workers, obtained by Bloomberg, Nippon Executive Vice President Takahiro Mori said he was ready to work "expeditiously and in good faith" to resolve any issues still blocking the deal nearly a year after his company outbid rival Cleveland-Cliffs (CLF).

David McCall, international president of United Steelworkers, accused Nippon Steel of trying bypass union leadership "in an attempt to seek approval of an ill-conceived acquisition."

McCall also said the Committee on Foreign Investment in the US should block the deal.

US Steel shares were up more than 4% in recent trading.

(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.)

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