President Donald Trump said on Friday that the United States will move its headquarters in Pittsburgh as part of what he called a “planned partnership” that it seems to indicate that he will agree to a Japan -based Nippon Steel offer to buy the American iconic US steel maker.
However, Trump’s statement left the matter mysterious whether he agreed to the Nippon Steel offer after he has repeatedly pledged to ban it. But it seems that investors are taking it as a sign that it will agree to it, and they will sharply pay the USEL shares.
Nippon StelsAlmost $ 15 billion in offerTo buy steel for usIt has been bannedBy former President Joe Biden on his way out of his post, and after Trump became president, he is subject to anotherNational security reviewBy the foreign investment committee in the United States.
“After a lot of consideration and negotiation, the United States will remain steel in America, and keep its headquarters in the great city of Pittsburgh,” Trump said in a statement.
He said that what Trump called a “planned partnership” will create at least 70,000 jobs and add 14 billion dollars to the American economy, although it was not clear what the conditions of the deal or who will possess American steel under the arrangement.
Josh Spers, head of Steel American analysis in Pennsylvania, told basic commodities that he sees this “partnership” a green lighting light. “
Companies did not comment immediately. US Steel shares jumped by 21 % on the news, and continued to rise in post -sales circulation.
Our headquarters at Steel has always been part of Nippon Steel’s attempt to buy it. toSweeteningNippon Steel made a $ 2.7 billion commitment to upgrading facilities in Pennsylvania and Indiana at the top of a previous commitment to spend $ 1.4 billion.
However, David Burit, CEO of US Steel last September, warned that the Nippon Steel ban means that the American steel “will greatly burn” and will arise “serious questions” about staying its headquarters in Pittsburgh.
The Board of Directors and shareholders in the United States approved the Nippon Steel offer last year. The United Nations Union opposed it. The union had no immediate comment on Friday.
likeRecently in December“He was against the great and strong American steel that is purchased by a foreign company,” Trump said.
Then in February, Trump suggested thatNippon steelYou will not buy us steel, as you plan, but it will be invested instead in the United States.
Last month, Trump requested a new review of the national security to present the proposal Nippon steel offer.
This story was originally shown on Fortune.com
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