- Reuters
Shareholders warn Nippon Steel faces higher decarbonisation costs with U.S. Steel takeover
TOKYO (Reuters) -Nippon Steel's proposed acquisition of U.S. Steel risks raising decarbonisation costs for Japan's top steelmaker, an activist shareholder group said, urging the company to address the takeover's impact on its climate goals. Nippon Steel, the world's fourth biggest steelmaker, last year announced a $15 billion takeover offer for U.S. Steel, which backed the bid, but has faced resistance from a powerful labour union and the White House. "The potential addition of U.S. Steel's 11 blast furnaces to Nippon Steel's operations will almost certainly increase the cost of decarbonisation for the company," Brynn O'Brien, executive director of the Australasian Centre for Corporate Responsibility (ACCR), said.
- Bloomberg
US Steel CEO Is ‘Extremely Confident’ Nippon Deal Will Close in 2024
(Bloomberg) -- US Steel Corp. boss David Burritt is convinced Nippon Steel’s $14.1 billion takeover will proceed this year despite stiff opposition from union leaders and the Biden administration. Most Read from BloombergWhat to Know About the Deadly Flesh-Eating Bacteria Spreading in Japan‘I Live in Hell’: Anti-Growth Fervor Grips US South After Pandemic BoomNvidia’s 591,078% Rally to Most Valuable Stock Came in WavesNvidia Becomes World’s Most Valuable Company as AI Rally Steams AheadI Didn’t
- Zacks
U.S. Steel (X) Issues Q2 View, Progresses on Nippon Transaction
U.S. Steel (X) anticipates sequentially lower earnings for Q2 and projects EBITDA of $425 million. It continues to advance toward finalizing the Nippon Steel transaction.
