U.S. Steel (X) CEO David Burritt says the company would close steel mills and move its headquarters from Pittsburgh should the planned $14.1B sale to Nippon Steel (NPSCY) fall apart, The Wall Street Journal’s Bob Tita reports. Burritt said the nearly $3B that Nippon Steel has pledged to invest in U.S. Steel’s older mills is “critical” to maintaining workers’ jobs and keeping them competitive and that “We wouldn’t do that if the deal falls through… I don’t have the money.” Burritt’s comments came after Democratic presidential nominee Kamala Harris said Monday that U.S. Steel should remain domestically owned and operated.
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