US Steel Surges on Report Deal Decision May Come After Election
https://www.bloomberg.com/news/articles/2024-09-13/us-steel-surges-on-report-deal-decision-may-come-after-election?utm_source=twitter&cmpid=socialflow-twitter-business&utm_content=business&utm_medium=social&utm_campaign=socialflow-organic
Posted by Popular_Bluebird8349
6 Comments
It seems that investors know that this is all just a political show to win some votes. If they really wanted to block the deal, they would’ve done it ages ago. Everyday that passes without blocking it is just an signal that it probably won’t be blocked at all. Deal is just too sweet for the US. For those who don’t know, the acquisition deal is for $55/share. Stock is currently trading at $36. Up 13% in the last 5 days. You do the math.
I can’t wait to see the look on people’s faces when $X goes $60+
It’s quite astounding that so many Americans still think they’re actually gonna block this deal.
Do you realize what that means for USS? It means they will slowly crumble, steelworkers will lose their jobs. steel mills will slowly shut down, and maybe some other American company will buy them and create a steel monopoly in the US.
I highly doubt any presidential candidate wants that on their watch.
I’m in. I’ll take a position in US Steel. I know it’s a big risk, but I’m willing to take it.
us steel industry was gone long ago.
union demands raised wages & manufacturing cost causing the industry from being competitive.
union is a good thing but high labor cost didn’t help.
Why did they do it in an election hear to begin with, just wait a year an no one woukd have cared
China dumps steel on the US, Chinese steel is $514.65 per ton vs US Steal at $786 per ton
WTC 1 took 50,000 short tons to build
$271.35 price difference per ton.
$13,567,500 cost savings if you use Chinese steel at today’s prices