The world seems fine with Japan’s largest steel company acquiring the grandfather of steel production in America. In December, Tokyo-based Nippon Steel made a $14.9 billion offer to merge with U.S. Steel. In April, U.S. Steel stockholders approved the proposal by an overwhelming 99% of shares represented. And yet a
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John C. Tumazos thinks unions and Pennsylvania politicians have gotten the U.S. Steel sale all wrong. The Wilkinsburg-bred metals industry analyst said Nippon Steel’s $14.9 billion acquisition of the Pittsburgh-based steel icon will not trigger mass layoffs in Southwestern Pennsylvania or encourage the new owners to idle mills. Instead, the
John C. Tumazos thinks unions and Pennsylvania politicians have gotten the U.S. Steel sale all wrong. The Wilkinsburg-bred metals industry analyst said Nippon Steel’s $14.9 billion acquisition of the Pittsburgh-based steel icon will not trigger mass layoffs in southwestern Pennsylvania or encourage new owners to idle mills. Instead, the new