US Steel Warns Thousands Jobs at Risk Without Nippon Steel
- Firm says killing deal would raise questions about HQ location
- US Steel workers host rally in Pittsburgh in support of deal
This article is for subscribers only.
United States Steel Corp. is warning union leaders and politicians pushing to block its $14.1 billion acquisition by Nippon Steel Corp. that doing so would imperil thousands of jobs and its Pittsburgh headquarters.
Without the Japanese steelmaker’s support, US Steel would have to pivot away from its legacy blast furnaces, endangering union jobs and undermining the competitiveness of the American steel industry, the company said in a statement Wednesday. The warning echoes comments by Chief Executive Officer David Burritt to the Wall Street Journal.