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美国钢铁(X.US)收购提议获工厂地官员支持 新日铁总裁敦促拜登批准交易

United States Steel (X.US) acquisition proposal receives support from factory officials, and the president of Nippon Steel urges Biden to approve the Trade.

Zhitong Finance ·  Dec 25, 2024 15:38

Tadashi Imai, the president of Japan Steel, stated on Wednesday that its proposal to acquire United States Steel has been supported in the region where the United States Steel plants are located.

According to the Zhitong Finance APP, Tadashi Imai, the president of Japan Steel, stated on Wednesday that its proposal to acquire United States Steel (X.US) has been supported in the region where the United States Steel plants are located.

On Monday, the U.S. Foreign Investment Committee (CFIUS) submitted its decision on whether to approve or block the $15 billion Trade to President Biden, who will have 15 days to make a decision.

Previously, both Biden and his successor Trump expressed opposition to this Trade.

On Wednesday, Imai reiterated that Nippon Steel has made several commitments to address CFIUS concerns regarding National Security, adding that he believes both parties have made progress in understanding each other.

"There are quite a few people supporting this acquisition in the areas where the Steel mills are located," Imai said, "I hope President Biden can understand... the value of this acquisition to the USA economy."

Both companies have previously stated that they plan to complete this Trade by the end of 2024, which also faces strong opposition from the United Steelworkers (USW).

On Wednesday, Nippon Steel submitted a letter dated December 23 to Biden, signed by 24 municipal officials from areas where United States Steel plants are located, requesting the approval of this acquisition Trade by the President of the USA.

The letter stated: "We respectfully urge you to listen to the voices of Steel workers and all those whose Economic Security is closely tied to United States Steel - they are united in calling loudly for this agreement to be approved."

In another statement, the USW stated that it met with Nippon Steel executives twice last week. It reiterated its view that this Japanese Steel manufacturer is not interested in the long-term security of United States Steel's plants or blast furnaces operations, and urged Biden to maintain the company's ownership and Operation in the USA.

To win support for the acquisition, Nippon Steel had previously stated that it would not use the Trade as an excuse to import Steel and made a series of commitments to protect jobs and invest in the USA facilities that are critical to its future growth.

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