00:00It's Benzinga, and here's what's on the block.
00:02U.S. steel shares dropped over 17 percent as reports surfaced that President Joe Biden
00:07plans to block the company's sale to Japan's Nippon Steel.
00:10Vice President Kamala Harris and former President Donald Trump have voiced their opposition
00:14to the deal.
00:15U.S. Steel CEO David Burrett warned of potential plant closures and relocation of the Pittsburgh
00:20headquarters if the deal is stopped.
00:22Burrett emphasized the importance of the deal for competitiveness and jobs.
00:26Nippon Steel asserts the acquisition would strengthen the U.S. steel industry and bolster
00:30national security.
00:31For all things money, visit Benzinga.com.
