Investigative Antitrust/M&A/Pre-Event Financial Reporter. Insights and Updates. Views are my own
Statement from Nippon Steel re US Steel #merger #cfius Our transaction delivers clear benefits to U. S. Steel, union workers, the broader American steel industry, and American national security. Through increased financial investment and the contribution of our advanced technologies to U. S. Steel, Nippon Steel will advance American priorities by driving greater quality and competitiveness for customers in the critical industries that rely on American steel while strengthening American supply chains and economic defenses against China. No other U.S. steel company on its own can meet this challenge while also meeting antitrust requirements. Our aim is to bolster and grow U. S. Steel in the U.S. market in a way that prioritizes its talented employees, and we have provided significant commitments to the USW in our continued efforts to reach a mutually agreeable resolution. These include job security, pension security, capital investment, technology sharing, financial reporting, and the ability to enforce contractual obligations post-closing. Nippon Steel is the right partner to ensure that U. S. Steel is successful for generations to come as an iconic American company. We are progressing through the regulatory review, including CFIUS, while trusting the rule-of-law, objectivity, and due process we expect from the U.S. Government. We are determined to see this through and complete the transaction.