Conclusion of review over national security concerns nears
In a letter to US Steel workers on Monday, Nippon Steel clarified its spending plans in a last-ditch effort to gain support for its US$14.9 billion takeover of US Steel.Last week, Nippon's vice chairman Takahiro Mori said he hoped to complete the transaction by the end of the year.A review by the Committee on Foreign Investment in the US over national security concerns is reportedly nearing its conclusion, meaning that the deal could be in its final days.
McCall told media that Nippon's latest letter "remains riddled with the same exceptions and conditions as all its previous so-called commitments, allowing Nippon to back out or shift course for no other reason than changing business plans".Last month, Mori also wrote a letter to USW union members in hopes of gaining support, promising that the company won't import steel slabs from its overseas facilities.
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