US Steel Deal ‘Doomed,’ Says Union ‘Steadfast’ in Opposition
- Union chief sends memo to White House on deal-salvage effort
- Biden vows to kill acquisition by Nippon Steel Corp. of Japan
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The United Steelworkers union says it will not be bullied into accepting Nippon Steel Corp.’s last-ditch efforts to win over workers for its takeover of United States Steel Corp., calling the $14.1 billion acquisition a “doomed deal” and pledging to fight any foreign ownership of the company.
The memo, sent to “interested parties” including the White House on Thursday, is the latest in a public struggle to win hearts and minds as the fate of the deal hangs in the air, with President Joe Biden’s threat to block it looming large.