Nippon Steel’s takeover of U.S. Steel ensnared by labor opposition, NYT reports

Nippon Steel (NPSCY) is locked in a standoff with the United Steelworkers union, which represents some of the most politically powerful voters in the U.S., after agreeing to acquire U.S. Steel (X) for $14.9B in December, the New York Times’ River Akira Davis reports, citing sources with knowledge of the matter. Much of the opposition surrounding the deal can be traced back to Nippon Steel’s decision not to consult union leaders while it negotiated the merger and the company underestimated the challenges the union’s opposition would pose to closing the deal.