financetom
Business
financetom
/
Business
/
Nippon Steel executive saw positive reaction from U.S. Steel workers and others
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
Nippon Steel executive saw positive reaction from U.S. Steel workers and others
Jun 7, 2024 9:07 PM

TOKYO, June 8 (Reuters) - Nippon Steel ( NISTF ) Vice

Chairman Takahiro Mori met with U.S. Steel's employees and

community leaders this week to gain better understanding of its

proposed acquisition of the U.S. company and saw positive

reaction, a company spokesperson said.

Mori, the key negotiator for the U.S. Steel deal, returned

to the United States this week, soon after a May 20-26 trip, in

an effort to close the deal amid growing regulatory scrutiny and

political opposition as well as objections from the powerful

United Steelworkers (USW) union over fears of job losses.

Mori held talks with employees of the U.S. Steel's plants in

Gary Indiana and Mon Valley, Pennsylvania, outlining the

Japanese steelmaker's plans, including commitments to jobs and

investments on blast furnaces, the spokesperson said in an email

late on Friday.

"We are pleased to see the positive and supportive reaction

to Mori's visits, and we remain focused on directly

communicating our vision to the people who stand to benefit the

most from this transaction," the company said.

The world's No. 4 steelmaker wants to build public opinion

to back the deal, hoping this may push the union to come to the

table, Mori told Reuters in a recent interview.

The two steelmakers said last month that they have received

all regulatory approvals outside of the United States for their

proposed $14.9 billion merger, a step forward towards the

completion of the controversial deal.

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Copyright 2023-2026 - www.financetom.com All Rights Reserved