President Biden plans to block Nippon Steel’s $565M acquisition of US Steel. Cancellation could lead to a hefty penalty.
1Anonymous Security Guard [Lv.10] [Me] still keeps moving.Dec. 11, 2024 (Wed) 11:53:09.96ID:YcKUrfEE0
Thank you Biden
Forever Biden
12/11 (Wed) 7:33 AM
Bloomberg News reported on the 10th that President Biden plans to block Nippon Steel’s acquisition of US Steel, a major American steelmaker. After going through procedures within the U.S. government, a formal decision will be made at the end of this month. It has been revealed that a penalty of $565 million (approximately 80 billion yen) has been set if Nippon Steel’s acquisition of US Steel, a major American steelmaker, fails to go through.
Forever Biden
12/11 (Wed) 7:33 AM
Bloomberg News reported on the 10th that President Biden plans to block Nippon Steel’s acquisition of US Steel, a major American steelmaker. After going through procedures within the U.S. government, a formal decision will be made at the end of this month. It has been revealed that a penalty of $565 million (approximately 80 billion yen) has been set if Nippon Steel’s acquisition of US Steel, a major American steelmaker, fails to go through.
5Anonymous security guard [lv.52] still moves.Dec. 11, 2024 (Wed) 11:55:18.05ID:CuPHegwu0
I guess the penalty fee will help them get back on track.
19Anonymous Security Guard [Lv.10] [Me] still keeps moving.Dec. 11, 2024 (Wed) 12:05:16.65ID:YcKUrfEE0
>>5
80 billion is not enough, so it’s like a drop in the bucket.
80 billion is not enough, so it’s like a drop in the bucket.
Plus, if the acquisition is cancelled, no one will help, so it’s a surefire bad ending, so US Steel is like, “Biden, don’t let it be cancelled!”
Well, if it’s cancelled, Nippon Steel will get the full 80 billion, so it’s a disaster.
6Still, the Anonymous Security Guard [Lv.9] [Sprout] continues to move.Dec. 11, 2024 (Wed) 11:56:21.41ID:p7qfHW/k0
Beggar, even the Statue of Liberty is crying.
8Anonymous Security Guard [Lv.11] [Sprout] still keeps moving.Dec. 11, 2024 (Wed) 11:57:30.50ID:kuXMnzer0
I bet US Steel and the government are working together behind the scenes. This is a total match pump.
9Anonymous Security Guard [Lv.11] [Sprout] still keeps moving.Dec. 11, 2024 (Wed) 11:58:43.34ID:J1i7Koo9M
If they are going to block it despite both parties having agreed to it, shouldn’t they demand a penalty from the US government?
10Security Guard [lv.5] [Sprout].Dec. 11, 2024 (Wed) 11:58:50.82ID:Gva7sJrNa
Is it really okay to just let US Steel die like this?
12Still, the Anonymous Security Guard [Lv.59] [Seedling] continues to move.Dec. 11, 2024 (Wed) 12:00:43.41ID:Vr6f3uO90
What they’re doing is China.
13Anonymous security guard [lv.26] still moves.Dec. 11, 2024 (Wed) 12:00:48.76ID:EoRoNPe20
If the acquisition is successful, they’ll have to pay ridiculous expenses that will cause Nippon Steel’s stock price to fall, and the losses will be far greater than the penalty fee. Either way, it’s a huge loss lol. Nippon Steel is stupid lol.
14Anonymous Security Guard [Lv.10] [Me] still keeps moving.Dec. 11, 2024 (Wed) 12:01:35.20ID:YcKUrfEE0
US Steel is the largest steel company in the United States.
They have supplied cheap steel through mass production, but their scale has grown too large and they have not been able to ride the wave of high quality steel, becoming outdated and now on the verge of bankruptcy.
↓
Nippon Steel proposes acquisition, saying that they will rebuild the company by providing technology, etc.
US Steel management and labor union welcome with cheers
American conservatives appeal to patriotism, saying, “The Japs are trying to buy up the traditional companies of the States!”
Biden, who wants to impress the conservatives, says, “I’m going to stop you!” “Woohoo! Biden! Biden!”
I’m going to issue a ban on the acquisition, right here and now
If the acquisition is canceled, Nippon Steel will pay US Steel a penalty of 80 billion yen.
However, even if they get the compensation, if the acquisition is canceled, US Steel will be back on the verge of bankruptcy, so US Steel seems to want the acquisition to be successful somehow.
17Anonymous Security Guard [Lv.11] [Sprout] still keeps moving.Dec. 11, 2024 (Wed) 12:03:55.96ID:8JmrO345M
>>14
In America, whoever does what they want wins.
In America, whoever does what they want wins.
15Anonymous Security Guard [Lv.10] [Sprout] still keeps moving.Dec. 11, 2024 (Wed) 12:01:45.10ID:h118J9U90
Japan is full of stuff like this. You’ll definitely get screwed.
16Anonymous security guard [lv.22] still moves.Dec. 11, 2024 (Wed) 12:02:53.46ID:2M9TrOMY0
It’s an invincible business strategy.
20Still, the Anonymous Security Guard [Lv.1] [Sprout] continues to move.Dec. 11, 2024 (Wed) 12:05:27.58ID:bcxAm0Dd0
If the US government were to sue them for this, would they lose?
21Still, the Anonymous Security Guard [Lv.6] [Sprout] continues to move.Dec. 11, 2024 (Wed) 12:05:59.45ID:ydIos8KS0
This must have been a setup.
22Anonymous security guard [lv.24] still moves.Dec. 11, 2024 (Wed) 12:06:41.02ID:wRrPFScz0
I’d like to hear how the guy who signed the contract feels.
25Still, the Anonymous Security Guard [Lv.4] [Sprout] continues to move.Dec. 11, 2024 (Wed) 12:07:37.59ID:YXwpNv+K0
Why would Nippon Steel have to pay a penalty? The head of legal affairs will probably get fired.
45Still, the Anonymous Security Guard [Lv.1] [Sprout] continues to move.Dec. 11, 2024 (Wed) 12:11:50.55ID:36NGOpkh0
>>25
There’s a contract between the two parties that stipulates that whoever declares cancellation after an agreement is reached must pay a penalty.
There’s a contract between the two parties that stipulates that whoever declares cancellation after an agreement is reached must pay a penalty.
29Still, the Anonymous Security Guard [Lv.13] [Sprout] continues to move.Dec. 11, 2024 (Wed) 12:08:35.32ID:Uhs/w5rh0
Reiwa’s Hull Note.
30Anonymous Security Guard [Lv.14] [Me] still keeps moving.Dec. 11, 2024 (Wed) 12:08:56.94ID:rHih9sjB0
What if Nihon University was bought by a prestigious Chinese university? You’d all be furious.
34Anonymous security guard [lv.24] still moves.Dec. 11, 2024 (Wed) 12:09:55.58ID:wRrPFScz0
>>30
Isn’t the eastern version of Peking University called Tokyo University? That’s good.
Isn’t the eastern version of Peking University called Tokyo University? That’s good.
31Still, the Anonymous Security Guard [Lv.36] [Seedling] continues to move.Dec. 11, 2024 (Wed) 12:09:07.36ID:ixxOnCyk0
With the election of Trump, we’ve returned to a time when we couldn’t imagine a country that would uphold the principle of good faith. Meanwhile, China will likely take advantage of distrust towards the US and manipulate us.
50Anonymous security guard [lv.14] still moves.Dec. 11, 2024 (Wed) 12:12:32.82ID:HTnFifdv0
>>31
It was Biden who stopped it.
It was Biden who stopped it.
33Anonymous security guard [lv.44] still moves.Dec. 11, 2024 (Wed) 12:09:41.94ID:Oz3oxBdR0
But it seems Trump is also saying no, so it’s all a gamble. Didn’t Harris also say no?
40Still, the Anonymous Security Guard [Lv.8] [Sprout] continues to move.Dec. 11, 2024 (Wed) 12:10:36.73ID:6X2OQwtpM
>>33
No, but what about US Steel?
No, but what about US Steel?
43Still, the Anonymous Security Guard [Lv.36] [Seedling] continues to move.Dec. 11, 2024 (Wed) 12:11:33.49ID:ixxOnCyk0
>>33
Trump’s presence is so big that everyone is ignoring rules and dancing along to the music
In comparison, Japan (and the UK) seem to have a very decent democratic government
In Germany, the far right is sure to make a big advance in the general election in a year.
Trump’s presence is so big that everyone is ignoring rules and dancing along to the music
In comparison, Japan (and the UK) seem to have a very decent democratic government
In Germany, the far right is sure to make a big advance in the general election in a year.
36Still, the Anonymous Security Guard [Lv.1] [Sprout] continues to move.Dec. 11, 2024 (Wed) 12:10:07.09ID:Y1Ve3smu0
Surely the contract would have detailed provisions for the payment of compensation in the event of a case like this.
42Anonymous security guard [lv.24] still moves.Dec. 11, 2024 (Wed) 12:11:17.46ID:wRrPFScz0
>>36
But even if the government intervenes, you’ll have to pay the penalty.
But even if the government intervenes, you’ll have to pay the penalty.
37Still, the Anonymous Security Guard [Lv.5] [Sprout] continues to move.Dec. 11, 2024 (Wed) 12:10:07.99ID:WYSMNuIHr
There is no need to suspect Chinese spies, as this is something the US would do.
38Anonymous Security Guard [Lv.12] [Me] still keeps moving.Dec. 11, 2024 (Wed) 12:10:28.82ID:3CJAMjmV0
Both the labor union and management are in favor of it, but it’s still no good 👎 is just laughable.
39Anonymous security guard [lv.32] still moves.Dec. 11, 2024 (Wed) 12:10:30.11ID:2Zyv7+jg0
If blocking the takeover will cause it to collapse, why not have Trump take responsibility and use public funds to rebuild it?
47Still, the Anonymous Security Guard [Lv.36] [Seedling] continues to move.Dec. 11, 2024 (Wed) 12:12:06.39ID:ixxOnCyk0
>>39
Well, it’s all “Japan and China’s fault” now.
Well, it’s all “Japan and China’s fault” now.
41Still, the Anonymous Security Guard [Lv.7] [Sprout] continues to move.Dec. 11, 2024 (Wed) 12:11:16.49ID:mX5Yyjz80
A fitting end for a vassal state.
44Anonymous Security Guard [Lv.11] [Sprout] still keeps moving.Dec. 11, 2024 (Wed) 12:11:37.92ID:DoTollbPM
It’s scary that Trump and Biden are on the same page about this. This is crossing the line for the government to intervene.
46Anonymous security guard [lv.14] still moves.Dec. 11, 2024 (Wed) 12:12:05.96ID:Kcdo7vtDd
I feel sorry for the employees, they work hard but their superiors are so stupid that they end up losing 80 billion yen.
48Still, the Anonymous Security Guard [Lv.1] [Sprout] continues to move.Dec. 11, 2024 (Wed) 12:12:27.72ID:kj2uIoeV0
I don’t know about the contract, but I don’t think they’ll pay.
49Still, the Anonymous Security Guard [Lv.5] [Sprout] continues to move.Dec. 11, 2024 (Wed) 12:12:31.69ID:WYSMNuIHr
Don’t Japanese politicians tell them to stop interfering with the takeover?
53Still, the Anonymous Security Guard [Lv.25] [Seedling] continues to move.Dec. 11, 2024 (Wed) 12:13:28.11ID:DuhqnR7b0
But Nippon Steel accepted the contract and went ahead with the acquisition.
57Still, the Anonymous Security Guard [Lv.8] [Sprout] continues to move.Dec. 11, 2024 (Wed) 12:14:02.26ID:6X2OQwtpM
If Nippon Steel doesn’t buy the company, there will be mass layoffs, but I feel so sorry for the employees who are being sacrificed because they don’t want to be bought by a foreign company.
Comments