Streetbeat News

NPSCY

Nippon Steel Corporation

https://www.nipponsteel.com/

Industry

Iron and Steel Mills and Ferroalloy Manufacturing

Open

6.77

Mkt cap

21B

Volume

19K

High

6.77

P/E Ratio

6.42

52-wk high

8.67

Low

6.68

Div yield

0.05

52-wk low

6.29

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

Nippon Steel is selling its stake in the Calvert joint venture to ArcelorMittal for $1, as part of its strategy to acquire US Steel. The transaction is contingent on the completion of Nippon Steel's acquisition of US Steel, which is subject to regulatory approvals.

Portfolio Pulse from Benzinga Newsdesk

October 11, 2024 | 7:14 am

Nippon Steel Corp has won an arbitration ruling in its $14.9 billion acquisition of United States Steel Corporation, despite opposition from political figures and the United Steelworkers union. The deal is pending regulatory approval and faces national security scrutiny.

Portfolio Pulse from Benzinga Neuro

September 26, 2024 | 2:18 am

The U.S. national security panel has delayed its decision on Nippon Steel's $14 billion bid for U.S. Steel until after the presidential election, due to national security concerns. The Committee on Foreign Investment in the United States (CFIUS) will allow the companies to refile their application, initiating a new 90-day review period. The deal faces opposition from political figures and the United Steelworkers union.

Portfolio Pulse from Benzinga Neuro

September 18, 2024 | 2:40 am

Nippon Steel's $14.1 billion acquisition of U.S. Steel faces opposition from United Steelworkers and U.S. political figures, including Vice President Kamala Harris. The union deems the deal 'doomed' and is prepared to fight against foreign ownership. The Committee on Foreign Investment has not yet made a recommendation.

Portfolio Pulse from Kaustubh Bagalkote

September 13, 2024 | 3:46 am

Nippon Steel is in talks with the United Steelworkers union regarding its proposed acquisition of U.S. Steel. The union has opposed the deal, and political figures like Kamala Harris and Donald Trump have expressed concerns. President Biden may block the $14.1 billion takeover.

Portfolio Pulse from Benzinga Neuro

September 12, 2024 | 1:05 pm

The Biden administration is attempting to block a $14.1 billion acquisition of U.S. Steel by Nippon Steel, citing national security concerns. The Committee on Foreign Investment has delayed its recommendation, and the deal faces mixed views from stakeholders. U.S. Steel's stock has seen a recent surge despite being down for the year.

Portfolio Pulse from Kaustubh Bagalkote

September 12, 2024 | 4:16 am

Nippon Steel's Vice Chairman, Takahiro Mori, is attempting to salvage a $15 billion acquisition of U.S. Steel amid national security concerns raised by the Biden administration. Vice President Kamala Harris has expressed that U.S. Steel should remain American-owned. The Committee on Foreign Investment in the United States (CFIUS) will review the deal.

Portfolio Pulse from Benzinga Neuro

September 11, 2024 | 7:41 am

Cleveland-Cliffs is prepared to acquire U.S. Steel assets if a deal with Nippon Steel is blocked by the Biden administration. U.S. Steel's shares dropped significantly after the deal was flagged as a national security risk. Cleveland-Cliffs has union and financial backing for the acquisition.

Portfolio Pulse from Matt Whittaker

September 06, 2024 | 12:29 pm

The U.S. is considering blocking Nippon Steel's acquisition of U.S. Steel due to national security concerns, causing tension with Japan. Japanese leaders warn this could harm U.S.-Japan relations. The deal faces opposition from U.S. labor unions and political figures.

Portfolio Pulse from Benzinga Neuro

September 06, 2024 | 9:45 am

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