U.S. Steel to be bought by Japanese steelmaker: The Wake Up for Tuesday, Dec. 19, 2023

Subscribe to the Wake Up, cleveland.com’s free morning newsletter, delivered to your inbox weekdays at 5:30 a.m. In August, U.S. Steel publicly rejected a $7.3 billion buyout offer from Cleveland-Cliffs. If Cleveland-Cliff’s efforts had become a reality, the new company would have dominated the U.S. steel market. Instead, U.S. Steel will be acquired by Tokyo-based Nippon for nearly double what Cleveland-Cliffs offered. U.S. Steel will keep its headquarters in Pittsburgh and become a subsidiary of Nippon – a development that worries both U.S. senators from Ohio. The United Steelworkers union...