According to a statement from the American group, its shareholders voted “overwhelmingly” in favor of the project.
“The impressive support from our shareholders is a clear indication that they recognize the irrefutable logic of our transaction with NSC,” summarized David Burritt, president of US, quoted in the statement.
“This is an important stage towards the completion of the operation,” he added.
The Japanese giant offered US Steel $55 per share, $14.9 billion in total, debt included. The completion of this purchase was expected in the third quarter of 2024.
“We are not surprised that shareholders have decided to obtain money” to the detriment of the employees and retirees of this “emblematic American firm,” the USW metalworkers union reacted in a statement.
Biden stated in mid-March that he opposes the sale of US Steel to Nippon Steel, in the middle of the election campaign in the United States.
“It is important that we maintain strong American steel companies, powered by American workers. I told our steelworkers that I support them, and I mean it,” Biden said in a statement.
US Steel, based in Pittsburgh, Pennsylvania (northeast), “has been an iconic American steel company for more than a century, and it is vital that it remains an American steel company, operated in the country, with local ownership,” added the Democratic president. .
Pennsylvania is a key state for the November presidential elections.
Source: With information from AFP.
