No Labor Agreement, No Deal: US Steel Union Draws Line for Nippon Merger
- Union holds political leverage over the $14 billion takeover
- Nippon bid for US Steel is up for review in CFIUS process
A United States Steel Corp. facility in Granite City, Illinois.
Photographer: Daniel Acker/BloombergThis article is for subscribers only.
The United Steelworkers and Nippon Steel Corp. are staking out bargaining positions for a deal that would potentially smooth the purchase of United States Steel Corp. — a key test of whether the union will ultimately back the deal and clear the way for the Biden administration to approve it.
Union leader David McCall is now explicitly outlining what it will take for the union to get a deal done: An in-writing, legal agreement that Nippon will honor all its labor contracts.