financetom
Business
financetom
/
Business
/
Nippon Steel seeks to address US concerns on U.S. Steel deal -letter
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
Nippon Steel seeks to address US concerns on U.S. Steel deal -letter
Sep 6, 2024 1:18 PM

WASHINGTON, Sept 5 (Reuters) - Nippon Steel ( NISTF )

told U.S. government officials it had proposed adopting a

binding national security agreement to address Biden

administration concerns about its proposed $14.9 billion

acquisition of U.S. Steel, according to a letter seen by

Reuters.

Nippon told the Committee on Foreign Investment in the

United States in a joint letter on Tuesday with U.S. Steel it

would commit to maintaining the American steel company's current

production and would only be able to reduce production capacity

if it was "approved by a majority of the independent U.S.

citizen directors of the U.S. Steel board. U.S. Steel would also

maintain an internal officer-level "trade committee" comprised

of U.S. citizens, Nippon said.

Nippon also disclosed it had hired former U.S. House

majority leader Dick Gephardt to assist in its efforts to reach

an agreement with the United Steelworkers.

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 >
Tata Power Renewable Energy wins 200-MW project in collaboration with SJVN
Tata Power Renewable Energy wins 200-MW project in collaboration with SJVN
Nov 28, 2023
The firm and dispatchable renewable energy (FDRE) project, designed with a hybrid of solar, wind, and battery storage, is aimed at providing a stable and dispatchable energy supply during peak hours. Shares of Tata Power Company Ltd ended at ₹270.75, up by ₹12.60, or 4.88%, on the BSE.
SJVN secures 200-MW wind power project at ₹3.24 per unit
SJVN secures 200-MW wind power project at ₹3.24 per unit
Nov 16, 2023
Projected to generate 482 million units in its inaugural year post-commissioning, the cumulative energy generation over a 25-year span is anticipated to reach 12,050 million units. Shares of SJVN Ltd ended at ₹75.17, down by ₹0.50, or 0.66%, on the BSE.
Suzlon's S144–3 MW wind turbines get big boost from Indian government
Suzlon's S144–3 MW wind turbines get big boost from Indian government
Nov 15, 2023
Th Suzlon wind turbines received the RLMM (Revised List of Models & Manufacturers) listing from the Ministry of New and Renewable Energy, marking an important milestone for the successful commercialisation of the product. Shares of Suzlon Energy Ltd ended at ₹40.49, up by ₹1.85, or 4.79%, on the BSE.
This sustainable jewellery brand is luring some women away from gold
This sustainable jewellery brand is luring some women away from gold
Oct 30, 2023
Aulerth's offerings range from ₹5,000 to as high as ₹2.8 lakh. Are women willing to spend this much on jewellery made from scrap? Founder and CEO Vivek Ramabhadran definitely believes so. Aulerth produces couture-inspired pieces in association with designers like JJ Valaya, Suneet Varma, among others. It has reported 33% repeat customers in the past year and expects a spike to 40% soon.
Copyright 2023-2026 - www.financetom.com All Rights Reserved