Nippon Steel’s effort to acquire U.S. Steel is shaping up to be a brutal battle, with massive corporations, an angry union and the world’s most powerful governments digging in and seeking to advance their own interests, all in the context of one of the most contentious elections in the United States ever.
Through it all, analysts and informed observers have been gaming out the possible outcomes and adding up the potential damage. They are also offering opinions about the best way forward in a transaction that could set a dangerous precedent and has the potential to upset the global order.
What is emerging is a consensus around a pragmatic, bespoke approach that will demonstrate that a rejection of the deal by the U.S. government would be a one-off and would not signal new thinking about how transactions are approved.
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