Nippon Steel faces twin hurdles to U.S. Steel deal: labor and regulators
NEW YORK/TOKYO -- Nippon Steel has come a step closer to acquiring U.S. Steel, but now faces two hurdles: the labor union, which is becoming increasingly vocal in the run-up to the presidential election, and a review by regulators over economic and security implications.
The first step came on Friday when U.S. Steel shareholders approved the proposed acquisition. The percentage in favor was approximately 71% of the total shares.
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