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X Jan 2025 40.000 call
- Zacks
U.S. Steel (X), Nippon Steel Clear Non-US Regulatory Hurdles
U.S. Steel (X) and Nippon Steel receive all necessary non-U.S. regulatory approvals for their transaction, which is expected to close in second-half 2024.
- Reuters
Nippon Steel's Mori returns to US this week for talks on US Steel takeover
Nippon Steel's vice chairman plans to return to the United States this week for more talks over the proposed acquisition of U.S. Steel and would study selling some assets if necessary for the deal to go through. Vice Chairman Takahiro Mori's visit so soon after a May 20-26 trip highlights the efforts Nippon Steel is taking to close the purchase amid growing regulatory scrutiny and political opposition. The deal would give Nippon Steel greater access to the profitable U.S. market and further its long-term financial goals.
- Reuters
US Steel, Nippon Steel receive all non-US approvals for merger
Nippon had clinched the deal to buy U.S. Steel last December, after edging out rivals including Cleveland-Cliffs, ArcelorMittal and Nucor. The steelmakers now need to secure an approval in the U.S., where the deal is facing regulatory scrutiny and increasing political opposition including from President Joe Biden, who wants U.S. Steel to remain domestically owned. The proposed transaction is also facing opposition from the powerful United Steelworkers union over fears of job losses, and is being scrutinized by the U.S. Department of Justice.
