05:42 AM EDT, 09/16/2024 (MT Newswires) -- (Updates with United Steelworkers comment in the third paragraph.)

The United Steelworkers union has rejected Nippon Steel's efforts to win support for its $14.1 billion takeover of United States Steel ( X ) , calling the deal a "doomed" attempt and vowing to resist any foreign ownership, Bloomberg reported on Friday.

Union President Dave McCall criticized US Steel executives for trying to divide union members and retirees to save the deal, Bloomberg reported, citing a memo sent to various parties, including the White House.

"We will not be bullied into going backward and accepting a bad deal," United Steelworkers said in the memo sent to MT Newswire. "Our commitment has never been more clear: Keep US Steel US-owned."

The report said that Nippon Steel reiterated that the acquisition would benefit American workers and national security.

"Many people profess to want what is best for our employees, and that is why we negotiated a deal with a partner who will bring $2.7 billion of transformative investments in USW-represented facilities, keeping them in operation for decades to come," US Steel told MT Newswires.

Nippon Steel and US Steel also recently sent a letter to President Joe Biden about their merger, according to multiple media reports. This follows reports that Biden may block the deal.

The spokesperson did not provide specific details on the letter's content, signed by top executives from both companies.

Nippon did not immediately respond 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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