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Steelworkers lose arbitration case against US Steel in their bid to derail sale to Nippon

U.S. Steel announced that a board of arbitration has favored Nippon Steel's $14.9 billion buyout, but the United Steelworkers union disagrees with the ruling.
The United Steelworkers stated, “The arbitrators accepted at face-value Nippon Steel’s statement that it would assume the Basic Labor Agreement.”
U.S. Steel warned that not finalizing the deal could risk thousands of U.S. Union jobs and result in mill closures in Pennsylvania.

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Inquirer

Lean Left

Arbitrator hands win to US Steel on embattled Nippon deal

NEW YORK, United States — Arbitrators ruled that Japan’s Nippon Steel has proven it can assume United States Steel’s labor contract obligations in a win Wednesday for an embattled proposed transcontinental merger. While Nippon’s $14.9 billion takeover of Pittsburgh-based US Steel still faces significant challenges in the wake of furious bipartisan political opposition, the decision

6 months ago·Manila, Philippines

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Kyodo News+

Center

Arbitration board backs Japan company's buyout deal for U.S. Steel

United States Steel Corp. says that an arbitration board has ruled in favor of Nippon Steel Corp.'s plan to acquire the Pittsburgh company, a deal opposed by its union.

6 months ago·Japan

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Benzinga

Center

Amid Resistance From Harris And Trump, Nippon Steel Scores Favorable Arbitration Ruling In $14.9B US Steel Acquisition Deal - Nippon Steel (OTC:NPSCY), United States Steel (NYSE:X)

An arbitration board has ruled in favor of Nippon Steel Corp in its $14.9 billion acquisition of United States Steel Corporation. The decision was announced on Wednesday.

6 months ago·New York, United States

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The Japan Times

Center

U.S. Steel says arbitration board rules in favor of Nippon Steel's $14.9 billion buyout

Nippon Steel had paid a hefty premium to clinch the deal for U.S. Steel on a bet that it could benefit from U.S. President Joe Biden's infrastructure spending bill.

6 months ago·Japan

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The Epoch Times

Right

Arbitration Board Green-Lights Sale of US Steel to Nippon Steel Amid Union Resistance

An arbitration board has ruled in favor of U.S. Steel, allowing its proposed acquisition by Japan’s Nippon Steel to proceed despite stiff opposition from the U.S. company’s labor union. The board, jointly selected by U.S. Steel and the United Steelworkers (USW) union to settle disputes between the two related to their Basic Labor Agreement (BLA), announced on Sept. 25 that U.S. Steel had met its obligations under the agreement’s successorship cl…

7 months ago·New York, United States

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