Nippon Steel Slumps on $7 Billion US Steel Investment Report

The potential commitment is significantly higher than a pledge the company had previously made to rebuild aging assets of the US steelmaker. — The potential commitment is significantly higher than a pledge the company had previously made to rebuild aging assets of the US steelmaker.
Photographer: Akio Kon/Bloomberg

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By Will Wade

March 28, 2025 at 12:47 AM UTC

Updated on

March 28, 2025 at 1:49 PM UTC

This article is for subscribers only.

Nippon Steel Corp. shares slumped Friday on a report that the company is considering investing as much as $7 billion to upgrade United States Steel Corp. facilities if it wins approval for its proposed $14.1 billion takeover.

The potential commitment, reported by the news website Semafor, is significantly higher than a $2.7 billion pledge the Japanese company had previously made to rebuild aging assets of the US steelmaker.