Fetterman, Vance vow to fight Nippon Steel’s purchase of U.S. Steel – By Clyde Hughes (UPI) / Dec 19, 2023
Dec. 19 (UPI) — Federal and state Pennsylvania lawmakers sounded off against an announced $14.9 billion sale of U.S. Steel to Japanese company Nippon Steel Corp., with some vowing to fight the deal.
Nippon Steel said on Monday it was purchasing U.S. Steel as a wholly-owned subsidiary for $55 per share, a 40% premium of the U.S. Steel’s closing stock price on Dec. 15.
Appearing to be caught off guard by the announcement, condemnations came from Sens. John Fetterman, D-Pa., and J.D. Vance, R-Ohio.
“It’s absolutely outrageous that U.S. Steel has agreed to sell themselves to a foreign company,” Fetterman said in a video on the roof of his Braddock, Pa., home, across from U.S. Steel’s Thompson plant.
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