PITTSBURGH, Dec. 18, 2023 ~ U.S. Steel, which owns multiple manufacturing facilities in metro Detroit, announced Monday morning that Japanese steel company Nippon Steel had purchased it for $14.1 billion.
Nippon beat other steel companies Cleveland-Cliffs and ArcelorMittal, who heavily pursued purchasing the 122-year-old company. Despite Nippon saying that union agreements made by U.S. Steel will be honored, the United Steelworkers Union remains concerned about whether the new owners will honor previously negotiated deals.
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