Japanese Firm to Acquire U.S. Steel for Almost $15 Billion — National Security and Labor Concerns Rise as Iconic American Company Changes Hands
Thomas O’Neil | Nurphoto | Getty Images
Nippon Steel Corporation (NSC), Japan’s top steelmaker, is set to acquire United States Steel Corporation (“U. S. Steel”) in a cash transaction valued at nearly $15 billion. This acquisition raises questions about the future of American industry and labor amid larger national security conversations.
U.S. Steel is a steel producer that supplies products to many industries, including automotive, construction, appliances, energy, containers, and packaging. It was founded in 1901 and is headquartered in Pittsburgh, Pennsylvania. As of 2022, U.S. Steel is the 27th largest steelmaker in the world, producing about 14.5 million tonnes of liquid steel annually.
The definitive agreement, which has already been approved by both companies’ boards of directors,
