Saving U.S. Steel
Business
Hi, Quartz members! In one of his last major industrial policy decisions before leaving office, President Joe Biden blocked the sale of the iconic Pittsburgh-based American steelmaker, U.S. Steel, to rival Japanese firm Nippon Steel. Nippon was offering $55 per share, well above the $35 offered by U.S.-based steelmaker Cleveland-Cliffs, and way above the $30 that U.S. Steel’s shares were trading for at the time. Suggested Reading Samsung's AI phones, Databricks' $10 billion, and Palona's sales
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