10:28 AM EST, 12/12/2024 (MT Newswires) -- United States Steel ( X ) said Thursday its employees will host a rally in support of the company's proposed acquisition by Japan's Nippon Steel.

The rally is scheduled for Thursday at the US Steel Mon Valley Works Clairton Plant in Pennsylvania, the company said.

Nippon Steel recently announced a $5,000 bonus for all eligible USW-represented US Steel employees and eligible non-represented employees within 30 days of the deal's completion. This would lead to a roughly $100 million total payment to qualifying employees, US Steel said.

The company's shares were down 2.7% in recent trading.

Price: 34.01, Change: -0.92, Percent Change: -2.65