This was such a stupid move because Nippon Steel was going to spend a lot of money building state of the art manufacturing facilities on U.S. soil. So in the event they ever leave ,etc… it would all be stateside. Makes zero sense to block this deal when they were offering $55/share. Now you’ve got Nucor and CLF offering to buy for $35/share and there’s no way it would benefit in the same was Nippon was going to. The reason Biden blocked it is probably for the stupid reason that the name of the company is “U.S. Steel” being owned by a foreign company even though the actual Americans would be the winners here.
We need do what China does and make sure every company here is at least partially US owned. You can't operate a company in China without getting local partners. So let Nippon Steel buy controlling shares, sure, but not the whole thing, and if they try to shut it down they get kicked out.
This was such a stupid move because Nippon Steel was going to spend a lot of money building state of the art manufacturing facilities on U.S. soil. So in the event they ever leave ,etc… it would all be stateside. Makes zero sense to block this deal when they were offering $55/share. Now you’ve got Nucor and CLF offering to buy for $35/share and there’s no way it would benefit in the same was Nippon was going to. The reason Biden blocked it is probably for the stupid reason that the name of the company is “U.S. Steel” being owned by a foreign company even though the actual Americans would be the winners here.
We need do what China does and make sure every company here is at least partially US owned. You can't operate a company in China without getting local partners. So let Nippon Steel buy controlling shares, sure, but not the whole thing, and if they try to shut it down they get kicked out.
Great username!
Miss that dude. Stubbed my toe the other day and cried out cursing women.