No Result
View All Result
SUBMIT YOUR ARTICLES
  • Login
Friday, October 31, 2025
TheAdviserMagazine.com
  • Home
  • Financial Planning
    • Financial Planning
    • Personal Finance
  • Market Research
    • Business
    • Investing
    • Money
    • Economy
    • Markets
    • Stocks
    • Trading
  • 401k Plans
  • College
  • IRS & Taxes
  • Estate Plans
  • Social Security
  • Medicare
  • Legal
  • Home
  • Financial Planning
    • Financial Planning
    • Personal Finance
  • Market Research
    • Business
    • Investing
    • Money
    • Economy
    • Markets
    • Stocks
    • Trading
  • 401k Plans
  • College
  • IRS & Taxes
  • Estate Plans
  • Social Security
  • Medicare
  • Legal
No Result
View All Result
TheAdviserMagazine.com
No Result
View All Result
Home Market Research Business

Trump says US Steel will keep HQ in Pittsburgh in a sign he’ll approve bid by Japan-based Nippon

by TheAdviserMagazine
5 months ago
in Business
Reading Time: 3 mins read
A A
Trump says US Steel will keep HQ in Pittsburgh in a sign he’ll approve bid by Japan-based Nippon
Share on FacebookShare on TwitterShare on LInkedIn


President Donald Trump said Friday that U.S. Steel will keep its headquarters in Pittsburgh as part of what he called a “planned partnership” that seemed to signal that he’ll approve a bid by Japan-based Nippon Steel to make a big investment in the iconic American steelmaker, if not buy it outright.

Still, Trump’s statement left it vague as to whether he is approving Nippon Steel’s bid after he vowed repeatedly to block the deal to prevent U.S. Steel from being foreign-owned.

More recently, Trump suggested that Nippon Steel would invest in U.S. Steel, not buy it. But investors seemed to take his statement as a sign that he’s approving some sort of merger, sharply pushing up U.S. Steel’s shares, and the companies issued approving statements. Nippon Steel said the partnership is a “game changer – for U. S. Steel and all of its stakeholders, including the American steel industry, and the broader American manufacturing base.” U.S. Steel said it “will remain American, and we will grow bigger and stronger” through a partnership.

Nippon Steel’s nearly $15 billion bid to buy U.S. Steel was blocked by former President Joe Biden on his way out of office and, after Trump became president, subject to another national security review by the Committee on Foreign Investment in the United States.

Live Events

In his statement Friday, Trump said that “after much consideration and negotiation, US Steel will REMAIN in America, and keep its Headquarters in the Great City of Pittsburgh.” What Trump called a “planned partnership” will add $14 billion to the U.S. economy, he said, although it wasn’t clear what the terms of the deal would be or who would control U.S. Steel under the arrangement. Neither company explained Friday how the partnership would be structured. Josh Spoores, the Pennsylvania-based head of steel Americas analysis for commodity researcher CRU, said that, from what he’s seeing, “this ‘partnership’ is a green light for the acquisition.”

Shares of U.S. Steel jumped 21% on the news, and continued rising in aftermarket trading.

Keeping U.S. Steel’s headquarters had always been part of Nippon Steel’s bid to buy it. To sweeten the deal, Nippon Steel had offered up a $2.7 billion commitment to upgrade U.S. Steel’s two blast furnaces and pledged that it wouldn’t import steel slabs that would compete with the facilities.

Nippon Steel also had pledged not to conduct layoffs or plant closings during the term of the existing labor agreement and to protect the best interests of U.S. Steel in trade matters.

U.S. Steel’s CEO David Burritt warned last September that blocking Nippon Steel’s bid would mean U.S. Steel would “largely pivot away” from investing in its two blast furnaces – one just outside Pittsburgh and one in Gary, Indiana – and it would raise “serious questions” about remaining headquartered in Pittsburgh.

U. S. Steel’s board and stockholders approved Nippon Steel’s bid last year. It has been opposed by the United Steelworkers union. The union had no immediate comment Friday.

As recently as December, Trump said he was “totally against the once great and powerful U.S. Steel being bought by a foreign company.”

Then in February, Trump suggested that Nippon Steel wouldn’t buy U.S. Steel, as it had planned, but that it would instead invest in U.S. Steel.

Last month, Trump ordered a new national security review of Nippon Steel’s proposed bid.



Source link

Tags: approvebidHellJapanbasedNipponPittsburghSignSteelTrump
ShareTweetShare
Previous Post

Summer Travel Plans? Make Sure Your Estate Plan Is Ready Too

Next Post

Ripple (XRP) Open Interest Dips Below $5B as JP Morgan Partners 3 US Banks Against Ripple’s RLUSD Stablecoin

Related Posts

edit post
Bandhan Bank shares fall 6% after Q2 PAT plunges 88% YoY to Rs 110 crore

Bandhan Bank shares fall 6% after Q2 PAT plunges 88% YoY to Rs 110 crore

by TheAdviserMagazine
October 31, 2025
0

Bandhan Bank shares fell 5.9% to an intraday low of Rs 160.40 on BSE on Friday, October 31, after the...

edit post
Getting Started: Inventory Types and Conditions

Getting Started: Inventory Types and Conditions

by TheAdviserMagazine
October 31, 2025
0

Take the guesswork out of sourcing! We want you to make the most informed purchases possible. In order to do...

edit post
Biogen outlines 67% launch product growth and signals expanded pipeline momentum amid strong Q3 results (NASDAQ:BIIB)

Biogen outlines 67% launch product growth and signals expanded pipeline momentum amid strong Q3 results (NASDAQ:BIIB)

by TheAdviserMagazine
October 30, 2025
0

Seeking Alpha's Disclaimer: The earnings call insights are compilations of earnings call transcripts and other content available on the Seeking...

edit post
Asian shares rise: Asian shares, US futures rise on tech results, gold holds gain

Asian shares rise: Asian shares, US futures rise on tech results, gold holds gain

by TheAdviserMagazine
October 30, 2025
0

US equity-index futures rose after strong earnings from Amazon.com Inc. and Apple Inc. spurred a post-market tech rally, lifting sentiment...

edit post
Michael Saylor’s Strategy returns to profitability in third quarter

Michael Saylor’s Strategy returns to profitability in third quarter

by TheAdviserMagazine
October 30, 2025
0

Bitcoin accumulator Strategy Inc. returned to profitability in the third quarter, with results bolstered by an unrealized gain tied to...

edit post
Planning approved for new Jerusalem luxury hotel

Planning approved for new Jerusalem luxury hotel

by TheAdviserMagazine
October 30, 2025
0

Building a hotel is an expensive business, but before you build you need a high-quality location. Pai Siam (TASE:...

Next Post
edit post
Ripple (XRP) Open Interest Dips Below B as JP Morgan Partners 3 US Banks Against Ripple’s RLUSD Stablecoin

Ripple (XRP) Open Interest Dips Below $5B as JP Morgan Partners 3 US Banks Against Ripple’s RLUSD Stablecoin

edit post
Inherent Disclosure and Implicit Construction

Inherent Disclosure and Implicit Construction

  • Trending
  • Comments
  • Latest
edit post
77-year-old popular furniture retailer closes store locations

77-year-old popular furniture retailer closes store locations

October 18, 2025
edit post
Pennsylvania House of Representatives Rejects Update to Child Custody Laws

Pennsylvania House of Representatives Rejects Update to Child Custody Laws

October 7, 2025
edit post
What to Do When a Loved One Dies in North Carolina

What to Do When a Loved One Dies in North Carolina

October 8, 2025
edit post
Another Violent Outburst – Democrats Inciting Civil Unrest

Another Violent Outburst – Democrats Inciting Civil Unrest

October 24, 2025
edit post
Probate vs. Non-Probate Assets: What’s the Difference?

Probate vs. Non-Probate Assets: What’s the Difference?

October 17, 2025
edit post
California Attorney Pleads Guilty For Role In 2M Ponzi Scheme

California Attorney Pleads Guilty For Role In $912M Ponzi Scheme

October 15, 2025
edit post
Breast cancer drug stock Olema could more than double from here, analysts say

Breast cancer drug stock Olema could more than double from here, analysts say

0
edit post
Bandhan Bank shares fall 6% after Q2 PAT plunges 88% YoY to Rs 110 crore

Bandhan Bank shares fall 6% after Q2 PAT plunges 88% YoY to Rs 110 crore

0
edit post
Book Review: Resistance Money: A Philosophical Case for Bitcoin

Book Review: Resistance Money: A Philosophical Case for Bitcoin

0
edit post
ECB October 2025 rate decision

ECB October 2025 rate decision

0
edit post
Goldman Sachs survey says only 11% of companies are actively linking layoffs to AI—but the real shock is yet to come

Goldman Sachs survey says only 11% of companies are actively linking layoffs to AI—but the real shock is yet to come

0
edit post
Has Mastercard accepted the inevitability of crypto? Spends B on tokenization platform

Has Mastercard accepted the inevitability of crypto? Spends $2B on tokenization platform

0
edit post
How to protect your bank account

How to protect your bank account

October 31, 2025
edit post
Bandhan Bank shares fall 6% after Q2 PAT plunges 88% YoY to Rs 110 crore

Bandhan Bank shares fall 6% after Q2 PAT plunges 88% YoY to Rs 110 crore

October 31, 2025
edit post
Getting Started: Inventory Types and Conditions

Getting Started: Inventory Types and Conditions

October 31, 2025
edit post
Biogen outlines 67% launch product growth and signals expanded pipeline momentum amid strong Q3 results (NASDAQ:BIIB)

Biogen outlines 67% launch product growth and signals expanded pipeline momentum amid strong Q3 results (NASDAQ:BIIB)

October 30, 2025
edit post
Asian shares rise: Asian shares, US futures rise on tech results, gold holds gain

Asian shares rise: Asian shares, US futures rise on tech results, gold holds gain

October 30, 2025
edit post
XRP Could Drive the ‘Biggest Economic Shift’ in Decades: Crypto Expert

XRP Could Drive the ‘Biggest Economic Shift’ in Decades: Crypto Expert

October 30, 2025
The Adviser Magazine

The first and only national digital and print magazine that connects individuals, families, and businesses to Fee-Only financial advisers, accountants, attorneys and college guidance counselors.

CATEGORIES

  • 401k Plans
  • Business
  • College
  • Cryptocurrency
  • Economy
  • Estate Plans
  • Financial Planning
  • Investing
  • IRS & Taxes
  • Legal
  • Market Analysis
  • Markets
  • Medicare
  • Money
  • Personal Finance
  • Social Security
  • Startups
  • Stock Market
  • Trading

LATEST UPDATES

  • How to protect your bank account
  • Bandhan Bank shares fall 6% after Q2 PAT plunges 88% YoY to Rs 110 crore
  • Getting Started: Inventory Types and Conditions
  • Our Great Privacy Policy
  • Terms of Use, Legal Notices & Disclosures
  • Contact us
  • About Us

© Copyright 2024 All Rights Reserved
See articles for original source and related links to external sites.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • Home
  • Financial Planning
    • Financial Planning
    • Personal Finance
  • Market Research
    • Business
    • Investing
    • Money
    • Economy
    • Markets
    • Stocks
    • Trading
  • 401k Plans
  • College
  • IRS & Taxes
  • Estate Plans
  • Social Security
  • Medicare
  • Legal

© Copyright 2024 All Rights Reserved
See articles for original source and related links to external sites.