X - American Steel Companies Powered By American Steel Workers - President Biden Sets Strong Pitch Against Nippon Steel's U.S. Steel Acquisition Bid | Benzinga
United States Steel Corporation (NYSE:X) shares are trading lower following a Thursday report suggesting President Joe Biden expressed concerns regarding Nippon Steel Corp‘s (OTC:NISTF) takeover of the company in a multi-billion deal.
The President emphasized the necessity for the company to stay under American ownership and operation, opposing the proposed merger, Reuters reported.
The United States needs to “maintain strong American steel companies powered by American steel workers,” Biden said, Reuters added.
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