Nippon Steel has vowed to push ahead with its $14.9bn acquisition of US Steel, predicting “calmer discussions” with unions after the country’s presidential election in November.
Speaking at the Japanese company’s full-year results, chair Takahiro Mori acknowledged that the deal had become heavily politicised but said there were currently no plans to make additional concessions to the steelworkers’ unions.
The company said in its earnings summary that there will be no job cuts and plant closures caused by the merger and that it will move its own US headquarters to Pittsburgh from Houston.
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