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...“It is important that we maintain strong American steel companies powered by American steel workers,” Biden said in a statement on Thursday....
...Nippon Steel has agreed to buy US Steel in a $14.9bn deal, as the Japanese group targets the American market with its largest-ever acquisition....
...“It is important that we maintain strong American steel companies powered by American steel workers,” Biden said....
...In raising concerns over the deal Biden did not refer to national security, speaking only of the need to maintain “strong American steel companies powered by American steel workers”....
...Activist investor Cevian Capital has taken a €1.2bn stake in UBS, and Nippon Steel has agreed to buy US Steel in a $14.9bn deal....
...On Thursday, President Joe Biden threw cold water on Nippon Steel’s pending $15bn acquisition for US Steel, once a national icon. He said US-steel should remain American....
...A person with knowledge of Nippon Steel’s thinking said the company does not plan to give up its bid for US Steel even if Biden publicly expresses opposition to the takeover....
...The company intends to inject much-needed technology and capital into US Steel....
...Lael Brainard, Biden’s national economic adviser, said on Thursday that the president believed that “the purchase of this iconic American-owned company by a foreign entity — even one from a close ally —...
...American jobs....
...However, traditional aluminium conductor steel reinforced cable lines are heavy and the thick steel support limits the volume of aluminium wires, which are responsible for transmission capacity....
...If Nippon Steel’s deal is approved, it will draw a mid-ranked American company under the umbrella of one of the world’s top three steelmakers, none of which is American....
...US Steel shareholders will receive a takeover price more than double the company’s trading value prior to an auction launched this summer. However, closing the deal may prove tricky....
...Lael Brainard, Biden’s national economic adviser, said on Thursday that the US president believed that “the purchase of this iconic American-owned company by a foreign entity — even one from a close ally...
...The US Steel board has now deferred to another American value: capitalism....
...This time it’s Joe Biden’s insistence that Pennsylvania-based US Steel being taken over by a company from the US’s close ally Japan is a threat to national security....
...The reports alleged that Ohtani transferred wire payments worth millions of dollars to Mizuhara to cover a debt....
...But even if US Steel were essential to national and economic security, since when has it become a threat to sell a nationally significant American company to a rival from arguably the US’s most important...
...[MUSIC PLAYING] Japan’s Nippon Steel has agreed to buy the American company US Steel in a deal worth close to $15bn....
...According to ESPN, there were at least $4.5mn in wire transfers from a bank account belonging to Ohtani made to a California bookmaking operation....
...Chinese companies are not competing for as many American companies, as a result of rising geopolitical tension between Beijing and Washington....
...“It is important to the president and me that American firms and workers can compete on a level playing field....
...The White House said the proposed acquisition of an “iconic American-owned company” deserved “serious scrutiny”....
...Soaring steel imports are a particular sore spot for the Brazilian government as the Latin American nation is one of the world’s largest exporters of iron ore — a primary ingredient in steel production....
...The American actor, loved by many as the wise detective Lester Freamon in HBO’s The Wire and now 71, is taking a break from working on one of Shakespeare’s most enigmatic characters: the Fool in King Lear...
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