U.S. Steel Shareholders Approve Nippon Steel’s $14.9 Billion Takeover Bid

U.S. Steel shareholders voted in favor of the proposed $14.9 billion acquisition by Japan’s Nippon Steel, moving the merger closer to completion while the deal faces regulatory scrutiny and political opposition.

Nippon’s proposal to buy U.S. Steel has been opposed by several U.S. lawmakers on national security grounds, with President Joe Biden expected to voice concerns over the buyout in the coming days.

The deal, which is a culmination of multiple bids by a range of suitors for the 122-year-old company, has also drawn criticism from the powerful United Steelworkers union.

Read the source article at Yahoo News