US Steel shareholders have overwhelmingly approved the sale of the company to the Japanese company Nippon Steel for $14.1 billion (€13.2 billion at the current exchange rate) More than 98% of the shares that participated in the extraordinary shareholders meeting held this Friday have given their support to the operation. The company's capital gives full support to an operation to which the President of the United States, Joe Biden, has shown opposition, and which requires administrative authorizations to move forward.
“I told our steelworkers I had their backs, and I meant it,” Biden tweeted last month. � “US Steel has been an iconic American company for more than a century, and it is vital that it remains domestically owned and operated,’ he added, sending the company's stock tumbling. ‘This transaction will make US Steel and the domestic steel industry stronger and more competitive, enhancing the legacy of steel that is mined, smelted and manufactured in the U.S.,’ said David Burritt, president and CEO of US Steel.