Deals
Nippon Steel Says It’s Sure US Deal Can Be Completed by Year-End
- Vice Chairman Mori hopes to meet with unions this month
- President-elect Trump has said he’ll block the acquisition
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Nippon Steel Corp. said it still expects its $14.1 billion acquisition of United States Steel Corp. to complete by the end of the year.
Despite opposition from unions and the outgoing Biden administration, the Japanese company says the deal will be beneficial to the US economy and American jobs, and aligned with policies to compete with the world’s biggest steel mills in China. But Donald Trump’s decisive victory in this week’s presidential election has made the acquisition arguably even more fraught.