Reported 25 days ago
Nippon Steel Corp. shares fell on a report indicating the company may invest up to $7 billion to upgrade US Steel facilities, contingent on a successful $14.1 billion takeover bid. This potential investment is significantly higher than a previous commitment of $2.7 billion. Consequently, US Steel shares rose over 7% after trading hours, while Nippon Steel's shares declined nearly 4% in Tokyo. Both companies are in discussions to salvage the proposed transaction, with Nippon Steel executives currently meeting with US officials for approval.
Source: YAHOO