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New York (CNN) — US Steel has agreed to be bought by Nippon Steel, Japan’s largest steelmaker, in a $14.1 billion deal.The deal marks the latest<a class="excerpt-read-more" href="https://whdh.com/news/us-steel-once-the-worlds-largest-corporation-agrees-to-sell-itself-to-a-japanese-company/">Read More</a>
The combined company will be among the top three steel-producing companies in the world, according to 2022 figures from the World Steel Association.
USW leaders decry the proposed sale and say they will push regulators to scrutinize the deal’s labor and national security implications.
A major US union representing steelworkers slammed the deal by Japan's Nippon Steel to buy US Steel Corp for $14.1 billion, which was confirmed on Monday just months after US Steel rejected an offer from its main domestic rival. "Neither US Steel nor Nippon reached out to our union regarding the deal, which is in itself a violation of our partnership agreement that requires US Steel to notify us of a change in control or business conditions," he added.
Japanese company Nippon Steel plans to acquire the Pittsburgh-headquartered steelmaker for $14.9 billion.