Rise of US Steel paralleled the arrival of the United States on the world stage President Joe Biden blocked the $15 billion acquisition of U.S. Steel by Japan's Nippon Steel on Friday — something he had first vowed to do in March.
What eventually became the largest corporation in the world was created by J.P. Morgan and others who financed the merger of Andrew Carnegie's Carnegie Steel Co. with rival Federal Steel at the start of the 20th century.
The rise of U.S. Steel, a storied American company, runs parallel to the arrival of America on the world stage.
U.S. Steel became a pioneer in the practice of vertical integration, a process by which a company attempts to gain control of every aspect of its business.
In 1907, U.S. Steel absorbed its biggest rival, drawing the ire of President Theodore Roosevelt, who said the acquisition violated the Sherman Anti-Trust Act.
