Nippon Steel Stands Firm on $15 Billion U.S. Steel Acquisition

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Nippon Steel CEO Eiji Hashimoto reaffirmed the company's commitment to its proposed $15 billion acquisition of U.S. Steel, stating that it is beneficial for both Japan and the United States. He emphasized the significance of the companies' legal challenges against the Biden administration's blocking of the deal, arguing that it would enhance, not threaten, U.S. national security.

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“There is no reason or need to give up,” he told reporters at company headquarters in Tokyo. “We are convinced it’s clearly beneficial for both nations.”While acknowledging the effort may take time, he stressed the companies’ latest legal action in the U.S. was a key development.In separate lawsuits in the U.S. Court of Appeals for the District of Columbia and the U.S.

Proponents of the takeover, which surfaced more than a year ago, say Japan is a U.S. ally, as well as a top investor in American companies.

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Biden decides to block Nippon Steel's $15 billion acquisition of U.S. Steel: ReportThe White House is expected to announce U.S. President Joe Biden’s decision to block Nippon Steel’s $15 billion takeover bid of U.S. Steel on Friday.
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