Investing
US Steel says arbitration board rules in favor of Nippon Steel’s $14.9 billion buyout deal By Reuters
(Reuters) -U.S. Steel said on Wednesday the board of arbitration, jointly selected by the steelmaker and the United Steelworkers union to settle disputes between them, has ruled in favor of Nippon Steel’s $14.9 billion buyout deal.
The arbitration board ruled that U.S. Steel has satisfied each of the conditions of the successorship clause of its basic labor agreement with the USW, the company said.
Nippon Steel had clinched the deal to buy U.S. Steel last December over rivals, including Cleveland-Cliffs (NYSE:), ArcelorMittal (NYSE:) and Nucor (NYSE:), paying a hefty premium as it bet the steelmaker would benefit from U.S. President Joe Biden’s infrastructure spending bill.
The deal, however, has faced political oppositions, including from Democrat presidential candidate Kamala Harris and her Republican challenger Donald Trump ahead of the elections in November.
Read the full article here
-
Investing7 days ago
Thousands of hotel workers walk off the job at world’s largest Hilton in Honolulu By Reuters
-
Personal Finance7 days ago
Nearly 60% of Americans say $100K income required to curb expenses anxiety: study
-
Make Money7 days ago
20 Companies That Hire for Online Tutoring Jobs
-
Make Money6 days ago
Top 100 Companies for Hybrid Jobs in 2024
-
Side Hustles6 days ago
Small Business Owners Share This One Major Concern: Survey
-
Passive Income6 days ago
Master These 4 Elements to Develop a Powerful Personal Network
-
Side Hustles6 days ago
How to Understand the Evolution of Reputation Management
-
Make Money5 days ago
8 Steps for Transitioning to Self-Employment and Being Your Own Boss