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Steel, which is reviewing multiple proposals ranging from partial acquisition to an entire buyout, is embroiled in a tussle with the United Steelworkers union. The company's unionized workers say they essentially have the power to veto any transaction they do not approve of. Thousands of Los Angeles-area hotel staffers went on a three-day strike in July over improved wages, benefits and working conditions. Union leaders representing the workers have threatened further walkouts.

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