The most important takeover battle in years has reached a crescendo. While campaigning in Pittsburgh at the start of the month Kamala Harris, the Democratic presidential nominee, said that US Steel should be owned and run by Americans, echoing a sentiment expressed earlier in the year by both President Joe Biden and Donald Trump, her Republican rival. The speech provoked the steelmaker—which had agreed to a takeover by Nippon Steel, a Japanese rival, for $15bn—to shoot back. Not only were workers rallying in support of the deal, it said, but the firm would consider lay-offs and moving its headquarters from the city should the takeover
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