Investors have interpreted Trump’s comments that it means that Nippon Steel has obtained his approval to seize the American steel.
US President Donald Trump has expressed his support for Nippon Steel of $ 14.9 billion to the United States, saying that their “planned partnership” will create job opportunities and help the US economy.
The shares of the United States from Steel increased by 21 percent on Friday after Trump’s comments, as investors have interpreted the position of president on the social truth to mean that Nippon Steel had obtained his approval of his long -standing acquisition of his long -term acquisition, which is the last major obstacle to the deal.
“This will be a planned partnership between the United States Steel and Nippon Steel, which will create at least 70,000 jobs, and add $ 14 billion to the US economy,” Trump said in a position on the social truth on Friday.
Reuters news agency reported this week that Nippon Steel has said if the integration is approved, it will invest at $ 14 billion in US steel operations, including up to 4 billion dollars in a new steel factory.
Trump added that the largest part of this investment will happen in the next 14 months and said that he would carry a gathering in the United States in Pittsburgh next Friday.
Nippon Steel said that Trump’s decision approved to approve the “partnership”. The White House did not immediately respond to questions about the advertisement.
The price of the steel shares in the United States continued after hours and reached 54 dollars, just shy of the Nippon Steel offer at a value of $ 55 per share in late 2023. While no details were issued, investors expressed their confidence that the conditions will be similar to those agreed upon in 2023. Investors said that in the end, the steel will not be traded in the end publicly and that they will get a payment Cash for their shares.
Politically controversial
The deal was one of the most expected in Wall Street after it turned into the political scene with fears that foreign ownership would mean job losses in Pennsylvania, where the American steel is located. She stated in the elections last year, which witnessed Trump’s return to the White House.
On Friday, the Sinteror of Pennsylvania, Dave McC Corc Cormaker, said on Friday that it was a “great victory for America and the American Steel Foundation”, which will protect more than 11,000 jobs in Pennsylvania and support the construction of at least 14,000.
The last pieces of the deal were amazing quickly. The US Foreign Investment Committee (CFIUS), which reviews deals for national security risks, told the White House this week that security risks can be addressed, according to Reuters, and transferred the final decision to the Trump office.
After a previous review led by CFIUS, former President Joe Biden Prohibited The deal in January is based on national security.
Companies prosecutionOn the pretext that they did not receive a fair review. The White House rejected this opinion.
Biden companies argued that the deal was opposed when he was running for his re -election to win the support of the United Solid Workers Union in Pennsylvania in the battlefield. The Biden Administration defended the review as necessary to protect security chains, infrastructure and supply.
Trump initially opposed the deal, on the pretext that the company should be owned and operated in the United States.
UN cruiles were against the deal recently on Thursday when they urged Trump to prevent the deal despite the $ 14 billion investment pledge from Trump.
For investors, including prominent hedge boxes, the news is speaking to relief more than a year after waiting for the decision. “There was a massive Five everywhere everywhere,” said one of the newly investor. “
Investors said that Trump appears to have won after increasing the new investment pledge.
Another investor said, “This deal guarantees that the steel industry will continue in Pittsburg for generations,” another investor said.
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