Warren, Brown Slam U.S. Steel Executives for Corporate Greed in Nippon Steel Deal

Press Release

“If these reports are accurate, they demonstrate a repulsive conflict of interest in which U.S. Steel executives can enrich themselves at the expense of U.S. Steel workers.

“U.S. Steel was not in distress when it first received an unsolicited bid, and it is not in distress today. But if a merger is desired, there is no need for you to sell the company to a foreign-owned entity, as U.S. Steel has also received an alternative offer from a domestic steelmaker.

“You claimed that these would be 'unavoidable consequence' if the deal is not completed. Far from being ‘unavoidable’, your threats are unjustified and unfair to U.S. Steel’s workers who have strengthened the company’s performance and helped mark U.S. Steel’s ‘second-best financial performance in the (c)ompany’s history’ only two years ago.”

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