Nippon Steel aims to complete acquisition of U.S. Steel in Jun
Time:Tue, 13 May 2025 09:05:21 +0800
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Nippon Steel Vice Chairman Takahiro Mori emphasized at the financial report press conference held on May 9 that he was doing his best to bring the acquisition of U.S. Steel to an end before US President Trump's judgment deadline on June 5.
Regarding the merger, former US President Biden ordered a ban on Nippon Steel's acquisition plan in January. However, Trump signed a presidential memorandum in April ordering the Committee on Foreign Investment in the United States (CFIUS) to review the acquisition.
Previously, Nippon Steel planned to invest a total of US$2.7 billion in U.S. Steel's steel mills and other projects. As for whether to increase the investment amount, Takahiro Mori said that this is the subject of negotiations with the US government and didn't disclose more.
The President and COO Tadashi Imai said that various negotiations are currently underway on the basis of maintaining the policy of acquiring it as a wholly-owned subsidiary. Trump welcomed Nippon Steel's investment in U.S. Steel, but he has always been unwilling to allow U.S. Steel to become a wholly-owned subsidiary of Nippon Steel.
