Streetbeat News

NPSCY

Nippon Steel Corporation

https://www.nipponsteel.com/

Industry

Iron and Steel Mills and Ferroalloy Manufacturing

Open

7.84

Mkt cap

25B

Volume

2.5K

High

7.90

P/E Ratio

7.78

52-wk high

8.53

Low

7.80

Div yield

0.05

52-wk low

6.11

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

The Biden administration is set to block Nippon Steel's $15 billion acquisition of U.S. Steel due to national security concerns. United Steelworkers President David McCall criticized U.S. Steel CEO David Burritt and suggested a leadership change to gain union support. The deal faces opposition from both political parties, and Nippon Steel has pledged additional investments to win approval.

Portfolio Pulse from Kaustubh Bagalkote

September 06, 2024 | 3:18 am

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

President Biden is set to block Nippon Steel's $15 billion acquisition of U.S. Steel, citing the importance of keeping U.S. Steel domestically operated. The deal is under investigation by CFIUS, and U.S. Steel's shares fell over 20% on the news.

Portfolio Pulse from Adam Eckert

September 04, 2024 | 6:50 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

Equinor ASA (NYSE:EQNR) has extended its 35-year partnership with Nippon Steel Corporation (OTC:NPSCY) and Sumitomo Corporation (OTC:SSUMY) by renewing a long-term contract to supply OCTG for up to 9 years. This contract highlights their commitment to stable supply, product development, and low carbon compliance. Equinor shares are trading higher, up 1.7% at $28.97. Investors can gain exposure via Amplify ETF Trust Amplify Natural Resources Dividend Income ETF (NYSE:NDIV) and SGI Enhanced Global Income ETF (GINX).

Portfolio Pulse from Lekha Gupta

July 03, 2024 | 2:30 pm

All corporate logos and prices are for illustrative purposes only and are not a recommendation, an offer to sell, or a solicitation of an offer to buy any security.