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Market Chatter: United States Steel Takeover to be Raised When Biden Meets United Steelworkers
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Market Chatter: United States Steel Takeover to be Raised When Biden Meets United Steelworkers
Apr 16, 2024 12:07 PM

02:33 PM EDT, 04/16/2024 (MT Newswires) -- United States Steel ( X ) takeover by Nippon Steel will be raised during President Joe Biden's meeting with United Steelworkers on Wednesday, Union President David McCall told Bloomberg.

McCall said he plans to raise the Nippon deal and other union matters with Biden, who will address the union at its Pittsburgh headquarters ahead of the presidential election in November, according to the news outlet Tuesday.

The US Department of Justice has reportedly opened an antitrust investigation into the takeover, which US Steel shareholders have reportedly approved even as Biden and the union oppose it.

The union, US Steel and Nippon Steel did not immediately reply to MT Newswires' request for comment.

(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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