Nippon Steel Extends US Steel Acquisition Deadline as Biden Weighs Block

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Business Nieuws

Mergers And Acquisitions,Steel Industry,Foreign Investment

Nippon Steel has pushed back the closing date for its acquisition of U.S. Steel to the first quarter of 2025, from a previous target of late 2024. The decision comes as President Joe Biden considers whether to block the deal, citing concerns about foreign ownership of the company.

Nippon Steel extended the closing date for its acquisition of U.S. Steel as President Joe Biden decides whether to block the deal.Investors hope stocks will close the holiday shortened week strong. While trading has been sparse, the three major U.S. averages have all climbed this week. Thehas jumped 2.3%. It follows stronger performance for the tech-heavy index throughout the month. The Nasdaq has gained 4.2% so far in December, versus a 0.1% increase for the S&P and 3.

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