This marks a pretty sizable step for US Steel being bought out by Nippon. Nippon is offering about double the current market cap for US Steel. However it seems both presidential candidates are against the company being sold.
This caught my interest when the CHIPS Act was passed and the demand for steel in the US would be high to accommodate the demand of infrastructure needed to build out and satisfy the demands for domestic construction and steel used in chip manufacturing.
I see if the deal gets approved against both presidential candidates wishes, then this could be a large return for folks that own the asset now. However I believe US Steel may return to its early 2023 value if the deal is blocked.
What are people’s thoughts on the future of US Steel?
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