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PITTSBURGH--(BUSINESS WIRE)--United States Steel Corporation (NYSE: X) (“U. S. Steel”) today announced that it will release financial results for the first quarter 2024 on Thursday, May 2, 2024, following the close of trading on the New York Stock Exchange. As previously announced, on December 18, 2023, the company entered into a definitive merger agreement to be acquired by Nippon Steel Corporation. In light of the pending transaction, the company will not hold an earnings conference call. Ins.
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United States Steel (X) closed the most recent trading day at $40.82, moving -1.23% from the previous trading session.
More than 98% of the shares voted at the special meeting of U.S. Steel (X) stockholders to approve the merger agreement, marking a significant milestone toward the completion of the deal.
Timna Tanners, managing director at Wolfe Research, discusses U.S. lawmakers' opposition to the proposed $14.9 billion acquisition of U.S. Steel by Japan's Nippon Steel, saying "in a normal year, I think this would've been approved, it would've gone through, we wouldn't be talking about this." U.S. Steel shareholders have voted in favor of the takeover bid.
Japan's Nippon Steel cleared one hurdle in acquiring U.S. Steel with a key vote on Friday even as lawmakers raise red flags about foreign ownership of an American company.
United States Steel announced Friday its shareholders approved the $14.1 billion sale of the company to Japan-based Nippon Steel, which has received pushback from regulators and President Joe Biden, who has opposed the deal and said the U.S. needs to maintain domestic steel companies “powered by American steel workers.”
U.S. Steel shareholders have voted to approve the proposed $14.9 billion acquisition by Japan's Nippon Steel , taking the merger one step closer towards completion even as political opposition to the deal mounts, Bloomberg News reported on Friday.
Dan DiMicco, chairman emeritus at Nucor, joins CNBC's Squawk Box to explain why he is doesn't favor the acquisition of Pittsburgh-based U.S. Steel by Japanese-owned manufacturing giant Nippon Steel.
Opposition to the Nippon steel acquisition of US steel reaches Capitol Hill. Bloomberg's Tyler Kendall speaks to proponents and critics of the deal in Congress.