Ticker: Bakery outlets close across New England; US Steel shareholders approve takeover by Japan’s Nippon Steel opposed by Biden administration
The company that produces baked goods for brands including Arnold bread, Entenmann’s and others has closed 28 outlet stores in the Northeast.
Bimbo Bakeries USA said in a press release that its products still will be found on grocery store shelves. The company’s brands also include Boboli, Lender’s Bagels, Sara Lee and Thomas.
The closed stores included outlets in New York, Maine, Vermont, Massachusetts, Connecticut and New Hampshire.
US Steel shareholders approve takeover by Japan’s Nippon Steel
U.S. Steel shareholders have overwhelmingly approved the company’s sale to Nippon Steel of Japan for $14.1 billion in cash, voicing unequivocal support for a combination that has drawn opposition from the Biden administration on economic and national security grounds.
More than 98% of the shares voted at a special investor meeting Friday approved the takeover, according to a preliminary count of ballots announced by Pittsburgh-based U.S. Steel.
The transaction has raised concerns about what the sale could mean for unionized workers, supply chains and U.S. national security.
President Joe Biden has come out in opposition to the deal, saying in March that the U.S. needs to “maintain strong American steel companies powered by American steelworkers.”