Biden - and steelmakers - promise U.S. Steel will stay American

Steve Holland - Reuters - 18/04
U.S. Steel and Japanese buyer Nippon Steel said the Pittsburgh-based firm will remain an "iconic American company" even after a planned $14.9 billion takeover, echoing President Joe Biden's promise to local steelworkers.
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    Nippon Steel Corp
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    United States Steel Corp
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PITTSBURGH, April 17 (Reuters) - U.S. Steel (X.N)New Tab, opens new tab and Japanese buyer Nippon Steel (5401.T)New Tab, opens new tab said the Pittsburgh-based firm will remain an "iconic American company" even after a planned $14.9 billion takeover, echoing President Joe Biden's promise to local steelworkers.
The two steel giants responded hours after Biden on Wednesday pledged that U.S. Steel would remain a "totally American company," repeating his opposition to the deal.
"And that's going to happen, I promise you," Biden told the supportive crowd during an event in Pittsburgh.
U.S. Steel Corp has agreed to be bought by Nippon Steel for $14.9 billion, but the deal has been described as being on life support since the Democratic president announced his opposition last month.
"The partnership between U.S. Steel and Nippon Steel is the right combination to ensure that U.S. Steel remains an iconic American ...
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