U.S. Steel
American steel-producing company
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January 2025 | U.S. Steel received the Equality 100 Award from the Human Rights Campaign Foundation after achieving a perfect score on the Corporate Equality Index for the fifth consecutive year, highlighting the company's commitment to workplace equality and LGBTQ+ inclusivity. |
January 27 2025 | Activist investor Ancora Holdings launched a proxy fight to oust CEO David Burritt and end litigation, nominating Alan Kestenbaum as the new CEO. |
January 12 2025 | The Biden administration delays the executive order blocking the merger until June 18, 2025, allowing courts time to review the counter-suit. |
January 6 2025 | Nippon Steel and U.S. Steel sued the Biden administration over the blocked acquisition. |
January 3 2025 | President Biden officially blocked the proposed Nippon Steel buyout. |
2024 | Shigeru Ishiba becomes Prime Minister of Japan and shifts the government's stance on the Nippon Steel's acquisition of U.S. Steel, urging the U.S. administration to approve the deal. |
2024 | President-elect Donald Trump declares he will block the proposed acquisition of U.S. Steel by Nippon Steel. |
2024 | Nippon Steel Vice Chairman Takahiro Mori makes multiple trips to the United States, meeting with political and business leaders in Washington, D.C., and community leaders in Pennsylvania to garner support for the acquisition. |
December 23 2024 | CFIUS concluded its review of the proposed Nippon Steel buyout without reaching a consensus on national security risks. |
September 2024 | Biden Administration prepares to block Nippon Steel's proposed acquisition of U.S. Steel. |
July 2024 | Nippon Steel hired Mike Pompeo to lobby for its acquisition of U.S. Steel. |
May 2024 | Both companies announce receiving regulatory approvals from multiple countries including Mexico, Serbia, Slovakia, Turkey, the United Kingdom, and the European Union. |
April 2024 | Ohio Senator Sherrod Brown pressed the White House to review Nippon Steel's ties to China in relation to the proposed U.S. Steel acquisition, with Nippon Steel responding that its Chinese operations represent less than 5% of its total capacity. |
April 2024 | U.S. Department of Justice launches an in-depth antitrust investigation into the planned acquisition of U.S. Steel by Nippon Steel. |
April 2024 | U.S. Steel shareholders approved the Nippon Steel acquisition proposal. |
March 2024 | Nippon Steel Executive Vice President Takahiro Mori announces plans to move the company's U.S. headquarters from Houston to Pittsburgh to strengthen the acquisition deal. |
March 14 2024 | The Biden Administration publicly opposes the acquisition of U.S. Steel by Nippon Steel. |
March 14 2024 | President Joe Biden declared that U.S. Steel must remain American-owned, citing national security risks. |
January 2024 | Nippon Steel and U.S. Steel hire prominent lobbyists to help navigate scrutiny of the proposed acquisition. Nippon Steel enlists Akin Gump Strauss Hauer & Feld, including former Representatives Ileana Ros-Lehtinen and Filemon Vela Jr. U.S. Steel hires K&L Gates and Hogan Lovells, including former Senator Norm Coleman. |
January 2024 | Nippon Steel President Hashimoto and Vice President Mori publish an op-ed in the Wall Street Journal explaining the company's plan to grow U.S. Steel and launch a dedicated website to promote the deal's benefits. |
December 21 2023 | Lael Brainard, director of the National Economic Council, indicates President Biden believes the Nippon Steel's acquisition of U.S. Steel should receive serious scrutiny, highlighting potential national security and supply chain concerns. |
December 18 2023 | Nippon Steel proposed to acquire U.S. Steel for $14.9 billion, offering $55 per share. |
August 2023 | U.S. Steel became the center of a bidding war, with Cleveland-Cliffs making an initial offer of $7.8 billion at $17.50 in cash plus shares valued at $35 each. |
December 2022 | Made a $150 million investment in the Keetac plant in Minnesota. |
December 2022 | A new four-year contract was ratified between the United Steelworkers union and U.S. Steel, covering 11,000 workers at 13 locations, with provisions including annual 5% base wage increases and a $4,000 bonus. |
June 2022 | Signed a non-binding letter of intent with SunCoke Energy to potentially sell two blast furnaces from Granite City Works. |
April 2022 | The Big River Steel mill in Osceola became the first ResponsibleSteel site certified in North America. |
February 2022 | U.S. Steel began construction on a new mill in Osceola, Arkansas, scheduled to be operational by 2024. |
January 2021 | U.S. Steel finalized the acquisition of Big River Steel. |
December 2020 | U.S. Steel announced it would acquire the remaining interest in Big River Steel for $774 million. |
October 2019 | U.S. Steel invested $700 million in Big River Steel, securing a 49.9% ownership stake in the LEED-certified steel facility. |
2014 | U.S. Steel was removed from the S&P 500 and transferred to the S&P MidCap 400 due to falling market value. |
January 2012 | U.S. Steel sold its underperforming Serbian mills near Belgrade to the Serbian government. |
This contents of the box above is based on material from the Wikipedia articles Proposed acquisition of U.S. Steel by Nippon Steel & U.S. Steel, which are released under the Creative Commons Attribution-ShareAlike 4.0 International License.