Nippon Steel, Zug Island and Detroit

**renf** · January-03-25, 09:11 AM

What are the implications for this area of President Biden's
decision to block the sale of U. S. Steel to Nippon Steel?
Is this a decision that the president-elect will reverse
when he takes office in less than three weeks>

Thank you.

**401don** · January-03-25, 09:23 AM

Trump has come out strongly against the sale. Of course, he's been known to change his mind.

**mikeg19** · January-03-25, 12:57 PM

Nope. They're both on the same page with this one. It will be interesting to see how this develops, as at one point USS CEO came out and said the acquisition was essential to the company's survival. Nippon, at face value, was going to infuse billions into the USS blast furnaces and factories stateside, which again USS stated they do not have the capital to do so.

**JBMcB** · January-03-25, 07:15 PM

US Steel is either going to be bought by a Russian company [[not likely to be approved) a Chinese company, a Japanese company, or ArcelorMital, a Luxemborg company. There are also some Indian companies that *might* have the capital to buy US Steel.

So those are your choices. Either that or have the US government dump a ton of money into it, which would probably be squandered as the company isn't currently managed very well.

**mwilbert** · January-03-25, 09:01 PM

Originally Posted by JBMcB

US Steel is either going to be bought by a Russian company [[not likely to be approved) a Chinese company, a Japanese company, or ArcelorMital, a Luxemborg company. There are also some Indian companies that *might* have the capital to buy US Steel.

So those are your choices. Either that or have the US government dump a ton of money into it, which would probably be squandered as the company isn't currently managed very well.

I haven't been following this closely, but I suspect Cleveland-Cliffs is a likely buyer. They wanted to buy it before, and under the Trump administration are likely to have an easier time than any of the companies you mentioned. I don't think there was a valid reason to stop the Nippon Steel acquisition, but that's now dead.

**Danny** · January-04-25, 08:53 AM

When Trump becomes president. He could immediately kick out Nippon Steel and restore U.S. Steel back to the American People.

**EASTSIDER BALDUCK** · January-04-25, 01:10 PM

Tough that we as a nation has come to this.
Mismanagement, unions, etc.
The cost of keeping something that cannot be insured is the cost.

Same as buying a Cadillac and not being able to insure it,
or, past parents' house in Florida one wants to keep, but cannot afford HOA/lawn/pool/taxes.

Tough, indeed.

cliff