U.S. Steel employees to host rally in support of Nippon Steel transaction

Employees of U.S. Steel Corporation (X) will host a rally at the U. S. Steel Mon Valley Works Clairton Plant on Thursday in support of the Nippon Steel (NPSCY) transaction, the company said in a statement. “Represented and non-represented employees, along with community members and local elected officials, will gather to reinforce their support for the transaction. They will again call on officials across the nation to recognize the significant benefits this transaction holds for employees and other stakeholders and to advocate for regulatory reviews to be focused on the merits of the deal. Earlier this week, Nippon Steel announced that all eligible USW-represented U. S. Steel employees and eligible non-represented employees will receive a $5,000 bonus within 30 days of deal closing. Altogether, the Closing Bonus will result in a nearly $100 million aggregate payment to qualifying employees.” “Our employees and community members are rallying once again to show the unrelenting support for the transaction with Nippon Steel. This transaction strengthens U.S. national security, economic security, and job security, creating the best possibility for U. S. Steel to get better AND bigger. This transaction with Nippon Steel is the only scenario where significant investments would occur across the unionized, integrated facilities, including in Mon Valley Works. We need to get the deal done,” said President and CEO of U. S. Steel, David B. Burritt.