US Steel Shareholders to Approve Japan’s Nippon Steel Deal Despite Uncertainty #

US Steel shareholders are expected to approve a $14 billion deal for the purchase of the company by Japan’s Nippon Steel. However, the deal is facing significant challenges. It requires approval from the Justice Department and the Committee on Foreign Investment in the United States. President Joe Biden publicly opposed the deal, highlighting the importance of maintaining American steel companies. Opposition from politicians on both sides of the aisle makes approval unlikely. Shareholders are concerned about the diminishing likelihood of the deal’s success. Despite the opposition, the administration believes the deal won’t harm US-Japan relations. If the deal falls through, the next steps are uncertain.