05:24 PM EST, 01/02/2025 (MT Newswires) -- (Updates with US Steel's statement in the sixth paragraph.)

US Steel's (X) unionized employees again rejected the latest offer by Nippon Steel to keep its $14.9 billion buyout effort alive, with a statement posted by the United Steelworkers to the union's website describing the Japanese steelmaker's proposal as "a 'Hail Mary' pass destined to fall to the ground."

Nippon's latest offer for US Steel includes granting the US government veto power before the company could reduce capacity at its acquired properties.

The offer did not impress USW International President David McCall or District 7 Director Mike Millsap, who said the offer still fails to make a "true commitment" to US Steel's long-term future.

President Joe Biden currently is reviewing the deal and is expected to make a decision within the next week or so after the Committee on Foreign Investment in the US balked at its recommendation.

"The bottom line is Nippon is a serial trade cheater that for decades built its business model on adding to global overcapacity and threatening the US industry," the union leaders wrote, adding its goal with the transaction "is to carry that model forward by undermining our industry from the inside."

In an emailed statement to MT Newswires, US Steel said the union leaders were misrepresenting several aspects of the Nippon Steel offer and stressed its belief the deal remains "the best way to ensure that US Steel, including its employees, communities, and customers, will thrive well into the future."

Nippon Steel did not immediately respond to a similar request on Thursday from MT Newswires seeking comment.