Nippon Steel delays closing for U.S. Steel deal

Nippon Steel delays closing for U.S. Steel deal, as it awaits Biden decision
Nippon Steel on Thursday delayed the closing date for its proposed $14.9 billion purchase of U.S. Steel, as it waits to learn if President Biden will block the deal on national security grounds. Why it matters: The Japanese steelmaker is trying to play nice with the White House,
Nippon Steel pushes back U.S. Steel acquisition date
Nippon Steel on Thursday said it was revising its expectations for the closing of the U.S. Steel deal from the end of 2024 until the first quarter of 2025, citing the reviews that are still ongoing.
US Steel Asks for Nippon Deal To Be Approved With President Biden Set to Decide
U.S. regulators failed to agree on whether to allow Nippon Steel's $14.9 billion purchase of U.S. Steel, passing the decision to President Biden.
Nippon Steel pushes deadline to close U.S. Steel deal as Biden decision looms
Japan's Nippon Steel said on Thursday it has extended the closing date for its $14.9 billion purchase of U.S. Steel as U.S. President Joe Biden weighs whether to block a deal that has faced intense opposition since it was announced.
Nippon Extends US Steel Acquisition Awaiting President's Final Decision
The announcement comes as the Committee on Foreign Investment in the U.S. has referred the acquisition matter to President Joe Biden, who will make a final decision about the deal within 15 days. Additionally, the review process of the Antitrust Division of the U.S. Department of Justice is still pending.
Nippon’s U.S. Steel Acquisition Plan Referred to Biden for Review
The Japanese company urged Biden to reflect on the steps it has taken to address national-security concerns.
Nippon Steel Deal Could Still Change the Industry
Nippon Steel's investment has the potential to extend the operational life of U.S. Steel plants bringing enhanced productivity, innovative practices and investment in research and development. New product lines could require expanded skillsets, leading to the creation of new jobs.
Nippon Steel's U.S. Steel bid referred to President Biden for final decision
Nippon Steel's $15 billion bid for U.S. Steel has been referred to U.S. President Joe Biden, a White House spokesman said, giving the president 15 days to decide on a tie up he has previously said he opposes.
Nippon extends the closing date to acquire U.S. Steel as Biden decides its fate
Nippon Steel has extended the closing date for its $15 billion acquisition of U.S. Steel (X), as Japan’s biggest steel firm faces opposition from both the current and next president of the U.S.
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Opinion - It’s not too late to approve the Nippon Steel deal
However, in its review of Nippon Steel’s proposed acquisition of U.S. Steel, it has failed to come to consensus.
Nippon Steel-U.S. Steel Merger Poses No National Security Threat
The Committee on Foreign Investment doesn't recommend blocking the merger, and neither should President Joe Biden.
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