off-the-wire

United Steelworkers signs non-disclosure agreement with Nippon Steel

Kitco Media
By Reuters
Published:
Updated:
Reuters
United Steelworkers signs non-disclosure agreement with Nippon Steel teaser image

The United Steelworkers (USW) signed a non-disclosure agreement with Nippon Steel, the union said on Monday, as the Japanese company remains on track to finalize its planned $15 billion acquisition of US Steel.

However, the union said even with the agreement, Nippon has not provided it with all of the information requested.

The world’s fourth-largest steelmaker’s planned deal has drawn criticism from Democratic and Republican lawmakers and the powerful USW union.

Nippon Steel aims to gain consent from the USW, the main union at US Steel, by emphasizing the deal would strengthen the US company’s profitability and finances, leading to stable employment.

(By Kannaki Deka; Editing by Maju Samuel)

Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.