Nippon Steel's $14.1 billion deal for US Steel sparks criticism
Washington (AFP) - Japan's Nippon Steel agreed to buy US Steel Corp for $14.1 billion, the companies announced on Monday, sparking criticism about the firm's ownership in an industry crucial to US national security. A major US steelworkers' union and a top US politician came out against the Japanese conglomerate's all-cash agreement to acquire the US firm for $55 per share. The deal price marks a 40 percent premium on US Steel's closing price on Friday and represents an equity value of about $14.1 billion, the companies said in a statement. Nippon will also assume the US firm's debt, taking...