Japan Steel resubmitted its application to acquire United States Steel.
According to Nikkei Chinese website, the U.S. government will re-examine the plan for Japanese steel company to acquire the large American steel company, United States Steel. Therefore, the review period can be extended by 90 days, and a decision on whether to approve it is likely to be made after the November U.S. presidential election. For Japanese steel company, it can temporarily avoid turning the acquisition plan into a political issue. The Committee on Foreign Investment in the United States (CFIUS), which reviews the acquisition of U.S. companies by foreign companies, has agreed to the resubmission of the application by Japanese steel company. This news was revealed by informed sources. Japanese steel company will resubmit the review.
U.S. Steel Powers Through Pricing Pressures, Domestic Demand Holds Strong Despite Global Challenges
Teamsters Don't Endorse Either Presidential Candidate. It's a Win for 1 Side. -- Barrons.com
US stocks have fluctuated | United States Steel rose more than 3% at one point. The updated third-quarter profit guidance exceeded expectations.
On September 19th, United States Steel (X.US) rose more than 3% and reached a high of $37.94. In terms of news, the company updated its third-quarter profit guidance, expecting adjusted earnings per share to be between 44 and 48 cents, higher than the average analyst expectation of 39 cents. The reason is that in the context of steel prices hitting bottom, domestic demand for flat-rolled steel in the United States has elasticity.
U.S. Steel Stock Is Rising. 3 Reasons Why. -- Barrons.com
United States Steel: Confident in acquisition plan despite opposition from senior US officials.
United States Steel CEO Burritt said the company is confident in obtaining regulatory approval for the $14.1 billion acquisition plan by Nippon Steel, despite high-level US political leaders vowing to veto the deal.