Reported 1 day ago
Nippon Steel has postponed the closing date for its $14.9 billion acquisition of U.S. Steel to the first quarter of 2025, as U.S. President Biden considers blocking the deal, which faces significant opposition. The merger was initially set for late 2024 and is under scrutiny from both the U.S. government and the United Steelworkers union. Despite challenges, U.S. Steel shareholders voted in favor of the acquisition, and Nippon Steel has proposed relocating its U.S. headquarters to Pittsburgh to gain support.
Source: YAHOO