Nippon Steel Corp. is stepping up efforts to convince American workers and politicians to take over United States Steel Corp. worth $14.1 billion, despite strong opposition from labor leaders and the Biden administration.
Japan’s top steelmaker is sending Vice Chairman and Executive Vice President Takahiro Mori to Pittsburgh next week, where he will meet with local staff and elected officials, people briefed on the matter said. It is also sending technical teams to assess U.S. steel mills as the company assesses how it can boost investment and labor commitments to convince union leaders and authorities of the deal’s benefits, the people said.
Nippon Steel agreed to buy US Steel in December, but opposition from the United Steelworkers and President Joe Biden has left investors unsure about the fate of the deal. Biden pledged last month to keep US Steel in American hands, in front of union workers ahead of the November election.
