Nippon Steel will pay $5,000 to each and every U.S. Steel employee in America if its acquisition of the company goes through. It made the announcement Wednesday morning in Japan as press reports indicated that U.S. President Joe Biden is set to block the transaction.
The proposed payment was blasted by the United Steelworkers, which opposes the deal.
“Nippon Steel today employed a classic union-busting tactic in a final, desperate attempt to win over support for its doomed acquisition of U.S. Steel: simple bribery,” union leaders wrote in a statement released after the $5,000 offer was made.
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