(Matt Drzik/Beaver County Radio)
(Photo/AP)

As was reported yesterday, Pittsburgh based U.S. Steel was acquired by Japan-based Nippon Steel in a multi-billion dollar all-cash deal. Following the sale, Senator Bob Casey released a statement showcasing his concern about the deal:

“The United States’ marquee steel company should remain under American ownership. From initial reports, this deal appears to be a bad deal for Pennsylvania and for Pennsylvania workers. I’m concerned about what this means for the Steelworkers and the good union jobs that have supported Pennsylvania families for generations, for the long-term investment in the Commonwealth, and for American industrial leadership.”

The acquisition of U.S. Steel was reported to be for $14.1 billion, which nearly doubled the offer from rival Cleveland Cliffs earlier this year. U.S. Steel will keep its name and its headquarters in Pittsburgh, where it will become a subsidiary of Nippon.