United States Steel Corporation (X)
After hours:
| Previous Close | 32.82 |
| Open | 32.44 |
| Bid | 31.31 x 1000 |
| Ask | 31.39 x 800 |
| Day's Range | 30.32 - 32.82 |
| 52 Week Range | 26.92 - 50.20 |
| Volume | |
| Avg. Volume | 4,554,112 |
| Market Cap | 7.023B |
| Beta (5Y Monthly) | 1.88 |
| PE Ratio (TTM) | 13.63 |
| EPS (TTM) | 2.29 |
| Earnings Date | Oct 24, 2024 - Oct 28, 2024 |
| Forward Dividend & Yield | 0.20 (0.61%) |
| Ex-Dividend Date | Aug 12, 2024 |
| 1y Target Est | 42.16 |
Barrons.comBlocking U.S. Steel Is an Unforced Error
The Biden administration is poised to reject Japanese-owned Nippon Steel acquisition of U.S. Steel according to reports in the Washington Post and elsewhere, a decision that appears driven purely by political considerations rather than national security interests. Taking this neo-protectionist stance will bar much-needed capital and innovation in America’s steel industry and alienate a crucial ally in the process. Swing states such as Pennsylvania, where the United Steelworkers are based, may ultimately determine who wins the White House.
ReutersNippon Steel exec flies to Washington in last attempt to save US Steel deal, FT reports
Nippon's Takahiro Mori will meet several deputy cabinet secretaries involved with the Committee on Foreign Investment in the U.S. (CFIUS), the FT reported, citing people familiar with the situation. Nippon, the White House and the U.S. Treasury Department did not immediately respond to Reuters' requests for comment. CFIUS has told Nippon and U.S. Steel that the merger, which has faced opposition from Republican and Democratic lawmakers, would create national security risks as it could hurt the supply of steel needed for critical transportation, construction and agriculture projects.
ReutersHow a Japanese suitor misread politics with U.S. Steel bid, despite warning signs
WASHINGTON/TOKYO (Reuters) -A month before Nippon Steel discovered its $15 billion takeover of U.S. Steel was on the brink of being torpedoed by President Joe Biden, the Japanese company received a strong hint that things were taking a turn for the worse. On Aug. 1, officials from the powerful Committee on Foreign Investment in the United States (CFIUS) told representatives of Japan's biggest steelmaker and its U.S. target that the committee had identified a potential national security risk, two sources familiar with the negotiations told Reuters. CFIUS was concerned that the deal could reduce U.S. steel production capacity, disrupting critical industries like transportation and infrastructure, the officials told the executives in the call, which has not previously been reported.
