US Steel acquisition would put the company among iconic American brands with overseas ownership

US Steel was once the pride and joy of the United States, the most valuable company in the entire world. Now, the iconic 122-year-old company will be owned by a Japanese company, Nippon Steel, sold in a $14.1 billion deal – a fraction of what much larger corporate giants are worth.

US Steel was once the pride and joy of the United States and the most valuable company in the entire world. The 122-year-old company has agreed to be bought by Japanese firm Nippon Steel in a $14.1 billion dea. But this isn’t the first instance of an international company snapping up a classic American brand. Everything from Jeep to Budweiser to Ben & Jerry’s has some international flair. Here are some of the most notable examples: Perhaps no company better embodies America’s trailblazing spirit than General Electric. The company was founded by legendary American inventor Thomas Edison. But Americans with a GE microwave or washing machine in their homes may not realize that General Electric’s century-old appliance division is owned by Haier Group, based in Qingdao, China. Haier bought the division off of General Electric for $5.6 billion in 2016, as General Electric’s business stalled and it looked to raise cash to chip away at a mountain of debt. Haier is itself a major appliance seller in the US, with its own products offered at US stores such as Home Depot and Lowe’s. Budweiser’s red and white cans and Bud Light’s blue cans are instantly recognizable to many Americans. Budweiser’s brewery, named Anheuser-Busch after the company’s founders, was created in the US in 1879 and helped pioneer pasteurization technology that allowed beers to be shipped across the US without spoiling, according to its website.