An arbitration board has ruled in favor of Nippon Steel Corp (OTC:NPSCY) in its $14.9 billion acquisition of United States Steel Corporation (NYSE:X). The decision was announced on Wednesday. What Happened: The arbitration panel, chosen by both the company and the United Steelworkers (USW) union, determined that U.S. Steel had met all conditions of the successorship clause in its labor agreement with the USW. Reuters reported that the USW remains opposed to the deal despite this ruling. “The arbitrators accepted at face-value Nippon Steel’s statement that it would assume the Basic Labor Agreem…
