Nippon Steel CEO Eiji Hashimoto stated Tuesday that the company will not abandon its proposed $15 billion acquisition of U.S. Steel. Hashimoto emphasized the deal's benefits for both nations and acknowledged the potential for a lengthy process. The companies have filed legal challenges against the Biden administration's decision to block the acquisition, arguing that it disregards the rule of law. They maintain that the merger would strengthen U.S.
national security and competitiveness in the global steel industry. Hashimoto expressed confidence that the companies are united in their pursuit of the deal and hope to gain understanding for their efforts. U.S. Steel Corp. has also accused the Biden administration of interference and vowed to defend its rights to complete the transaction
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