Former Secretary of State Mike Pompeo supports Nippon Steel’s $14.9 billion bid for U.S. Steel, viewing it as vital for countering China. However, President Biden is likely to block the deal due to national security concerns. The acquisition’s fate remains uncertain, impacting U.S. Steel’s stock and the global steel market.
United States Steel Corporation (X) shares are trading higher after the company announced third-quarter 2024 adjusted net earnings per share guidance and adjusted EBITDA expectations. The company anticipates resilient domestic flat-rolled steel demand, despite challenging pricing dynamics. While Europe is experiencing softening demand, the company is confident in achieving regulatory approvals for its pending transaction with Nippon Steel.
