Nippon Steel assures US Steel to remain American
Wall Street Breakfast
Seeking Alpha
4.1 • 1K Ratings
🗓️ 4 September 2024
⏱️ 7 minutes
🧾️ Download transcript
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Transcript
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| 0:00.0 | Welcome to See King Alpha's Wall Street breakfast, where we cover the top news for investors every morning. |
| 0:08.0 | Good morning. Today is Wednesday, September 4th. I'm Julie Morgan. Nippon Steele continues to make its case for U.S. Steel. |
| 0:17.0 | Snap is applying focus and another company pulls back on DEI. |
| 0:23.0 | Nippon Still has detailed a governance policy stating that U.S. Steel would remain a U.S. |
| 0:29.1 | Company headquartered in Pittsburgh. |
| 0:31.6 | Nippon Steel which is seeking to buy U.S. Steel for $14 billion, |
| 0:36.8 | said that the operating structure for U.S. Steel would include a majority of U.S. |
| 0:41.7 | citizens making up its board. |
| 0:44.0 | Additionally, the core senior management members of US Steel would also be US Citizens. |
| 0:50.4 | It added that US Steel would be owned by Nippon Steel North America, a New York-based subsidiary of the Japanese company that has operated in the United States for over 50 years. |
| 1:02.0 | The Japanese Steel-making companies said it would prioritize production at U.S. steel |
| 1:06.7 | to meet the demand in the U.S. steel market and announce there would be no transfer |
| 1:11.2 | of any of U.S. Steel's production capacity or jobs outside of the U.S. |
| 1:16.8 | On Monday, Vice President Kamala Harris said that U.S. Steel should remain domestically owned and operated. |
| 1:23.6 | In August, former President Donald Trump also signals his opposition to the deal, |
| 1:28.5 | stating that he would block the deal if he is reelected. |
| 1:31.9 | President Joe Biden, too, has said for months that he is reelected. President Joe Biden too has said for months that he is |
| 1:35.0 | against the 14 billion dollar buyout of US deal. However he has not outright |
| 1:40.4 | called for the transaction to be blocked. |
| 1:43.0 | The CEO of Snap says the company will focus on growing its advertising business |
| 1:49.2 | and augmented reality offerings. |
| 1:51.7 | Evan Spiegel told employees in a note on Tuesday that the Santa Monica-based company plans to introduce |
... |
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