Nippon Steel Sees US Support for U.S. Steel Acquisition

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Mergers And Acquisitions,Steel Industry,Nippon Steel

Nippon Steel's President Tadashi Imai stated that the Japanese company is receiving support for its proposed $15 billion acquisition of U.S. Steel, particularly in regions with concentrated steel mill operations. The decision regarding the deal's approval or rejection now rests with U.S. President Joe Biden, who has 15 days to make a final determination.

TOKYO - Japan's Nippon Steel is seeing support for its proposal to acquire U.S. Steel in the regions of the United States where steel mills are located, Nippon Steel's President Tadashi Imai told reporters on Wednesday.

On Monday, a U.S. foreign investment committee referred the decision whether to approve or block the $15 billion deal to U.S. President Joe Biden, who has 15 days to decide.Scan QR code to install app Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.

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Trump to Block Nippon Steel's $14 Billion U.S. Steel AcquisitionPresident-elect Trump announced his intention to use tax incentives to prevent Nippon Steel's acquisition of U.S. Steel, a deal valued at $14 billion, citing concerns over foreign ownership. He plans to act swiftly as president to block the transaction, which faces opposition from President Biden and a powerful U.S. labor union.
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