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NISTF

Nippon Steel Corporation

https://www.nipponsteel.com/

Industry

Iron and Steel Mills and Ferroalloy Manufacturing

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Nippon Steel is increasing its lobbying efforts in Washington, spending $1.3 million to secure its $15 billion acquisition of United States Steel Corporation (NYSE:X). The acquisition faces opposition from U.S. lawmakers, including President Biden, Kamala Harris, and Donald Trump, due to concerns over national security and job losses.

Portfolio Pulse from Benzinga Neuro

October 22, 2024 | 8:55 am

The U.S. national security panel is delaying its decision on Nippon Steel's $14.9 billion bid for U.S. Steel until after the Nov. 5 presidential election due to national security concerns. The delay allows for further discussions and potentially eases the stalled transaction. The Committee on Foreign Investment in the United States (CFIUS) raised concerns about the merger's impact on the U.S. steel supply chain, and political opposition is bipartisan. U.S. Steel CEO remains optimistic about the merger's success.

Portfolio Pulse from Stjepan Kalinic

September 18, 2024 | 3:03 pm

The Biden administration has flagged Nippon Steel's $14.9 billion acquisition of U.S. Steel as a potential national security risk, which could lead to the deal being blocked. The Committee on Foreign Investment in the United States (CFIUS) expressed concerns about the impact on American steel production and trade remedies. The companies involved argue that blocking the deal could lead to job losses and weakened steel supply.

Portfolio Pulse from Benzinga Neuro

September 05, 2024 | 7:41 am

U.S. Steel (NYSE:X) may shut down mills and relocate its headquarters if a sale to Nippon Steel (OTC:NISTF) fails. The $14.1 billion deal faces opposition from political figures and unions. Nippon Steel plans to invest $2.7 billion to keep U.S. Steel competitive.

Portfolio Pulse from Benzinga Neuro

September 04, 2024 | 12:25 pm

Vice President Kamala Harris has expressed her support for keeping United States Steel Corporation (NYSE:X) American-owned amidst foreign acquisition attempts by Nippon Steel. Harris emphasized the importance of maintaining strong American steel companies. Nippon Steel has pledged a $1.3 billion investment as part of its $14 billion acquisition bid, facing opposition from U.S. unions and politicians.

Portfolio Pulse from Benzinga Neuro

September 03, 2024 | 1:55 am

Nippon Steel plans an additional $1.3 billion investment in U.S. Steel plants to support its $14 billion acquisition bid, facing resistance from U.S. unions and politicians. The investment aims to extend the operational life of the plants, but the deal faces national security concerns.

Portfolio Pulse from Benzinga Neuro

August 29, 2024 | 9:35 am

Whitehaven Coal has sold a 30% stake in its Blackwater coal mine to Japanese steelmakers Nippon Steel and JFE Steel for $1.08 billion. This deal will help Whitehaven reduce debt and potentially increase shareholder returns, while ensuring a stable coal supply for the steelmakers.

Portfolio Pulse from Stjepan Kalinic

August 22, 2024 | 12:39 pm

Honda Motor Co. (NYSE:HMC) will reduce its gasoline vehicle production in China by 19% starting in October, as part of a strategic shift towards electric vehicles. This includes ceasing operations at two major facilities. The move comes amid stiff competition from companies like BYD and Tesla. Honda's shares closed 3.17% lower following the announcement.

Portfolio Pulse from Shivani Kumaresan

July 25, 2024 | 2:28 pm

The steel industry is witnessing significant consolidation with notable transactions such as Nippon Steel's acquisition of U.S. Steel, Acerinox's subsidiary NAS acquiring Haynes International, Varsteel's purchase of Pacific Steel, and ArcelorMittal's investment in Vallourec. These moves reflect the industry's adaptation to global dynamics, including de-globalization and sustainability goals.

Portfolio Pulse from Stjepan Kalinic

March 28, 2024 | 5:11 pm

Cleveland-Cliffs (NYSE:CLF) is set to receive up to $575 million from the U.S. Department of Energy for decarbonization projects in Ohio and Pennsylvania, aiming to significantly reduce carbon intensity in steel production. This move, part of a broader shift towards renewable energy steelmaking, positions Cleveland-Cliffs as a leader in the industry. The projects are expected to save $450 million annually in production costs, preserve 2,500 jobs, and create additional jobs. This initiative is supported by strong government backing and could enhance Cleveland-Cliffs' position in the domestic steel sector amidst Nippon Steel's acquisition of U.S. Steel (NYSE:X) and political interest in supporting the domestic industry.

Portfolio Pulse from Stjepan Kalinic

March 25, 2024 | 8:58 pm

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