Japan’s Nippon Steel extends closing date for U.S. Steel acquisition
by Reuters Dec 26, 2024
Japan's Nippon Steel said on Thursday it has extended the closing period for its $15 billion purchase of U.S. Steel, expressing confidence that the acquisition will protect and grow the American company.
The estimated closing date was revised to the first quarter of 2025 from the third or fourth quarter of 2024 previously.
On Monday, a U.S. foreign investment committee referred the decision whether to approve or block the deal to U.S. President Joe Biden, who has 15 days to decide.
Biden and his incoming successor, Donald Trump, have both expressed opposition to the purchase.
"Nippon Steel hopes that the President will use this time to conduct a fair and fact-based evaluation of the acquisition. We remain confident that the acquisition will protect and grow U.S. Steel," Nippon Steel said on Thursday.
It added that the review process of the antitrust division of the U.S. Department of Justice was also underway, without specifying when it may end.
Reuters
Similar Stories
DP World appoints Jason Haith as Vice President of Freight Forwarding for U.S. and Mexico
DP World, a global leader in logistics and supply chain solutions, has announced the appointment of Jason Haith as Vice President, Commercial Freight Forwarding – U.S. and Mexico, effective immediately.…
View Article
Amaero secures final approval for $23.5M loan from Export-Import Bank
View ArticleU.S. Bureau of Labor Statistics employment situation
Total nonfarm payroll employment increased by 256,000 in December, and the unemployment rate changed little at 4.1 percent, the U.S. Bureau of Labor Statistics reported today. Employment trended up in…
View ArticleImport Cargo to remain elevated in January
A potential strike at East Coast and Gulf Coast ports has been avoided with the announcement of a tentative labor agreement, but the nation’s major container ports have already seen…
View ArticleS&P Global: 2025 U.S. transportation infrastructure sector should see generally steady demand and growth
S&P Global Ratings today said it expects activity in the U.S. transportation sector will continue to normalize in 2025, with growth rates for most modes of transportation slowing to levels…
View Article
CBP officers seize counterfeit Tiffany & Co. jewelry
View ArticleGet the most up-to-date trending news!
SubscribeIndustry updates and weekly newsletter direct to your inbox!
Follow us on social media:
