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What’s the Case for and Against a Japanese Company Buying US Steel?
On December 20, I wrote U.S. Steel Bought by a Japanese Company, Thank Tariffs On Monday, U.S. Steel agreed to a takeover bid by Japan’s Nippon Steel for $14.1 billion. Ironically, U.S. protectionism played a role. CNN noted the deal marks the latest step in a gradual decline for the iconic 122-year old company, which was once the largest company on the planet. Sen. John Fetterman (D-Pa.) vowed to block the sale describing the deal as “outrageous”. The United Steelworkers union (USW) is also outraged. “To say we’re disappointed in the announced deal between U.S. Steel and Nippon is an understatement, as it ... (full story)