US President Joe Biden opposes the takeover of US Steel by its Japanese competitor. US Steel shares ended Thursday down 3.36% on the New York Stock Exchange, after having already fallen 9.5% on Thursday.
On the other hand, Nippon Steel shares on the Tokyo Stock Exchange on Friday were up around 02:30 GMT (+0.39%). Its shareholders have never been enthusiastic about this acquisition project, considered costly. The metalworkers' union opposed to the project launched a strategic review in August 2023.