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United States Steel Newsroom
Nippon Steel plans to delay the acquisition of United States Steel (X.US) until at least March of next year.
According to the Kyodo News, it is no longer possible for Nippon Steel to complete its acquisition of United States Steel (X.US) within the year as originally planned, therefore it has decided to postpone the deadline to no later than March of next year, and strongly hopes that President Biden will provide a fair and fact-based assessment regarding the acquisition. The Committee on Foreign Investment in the United States (CFIUS) has entrusted Biden with the decision of whether to permit the acquisition, and U.S. antitrust authorities are continuing their review, prompting Nippon Steel to change the expected completion time for the acquisition.
Is the acquisition of US Steel in jeopardy? Nippon Steel makes a final effort: requesting Biden to approve the Trade.
① Nippon Steel plans to invest 2 trillion yen to acquire United States Steel, but faces opposition from both parties in the US, leaving the fate of the Trade uncertain; ② Nippon Steel has extended the delivery deadline for the acquisition case to the first quarter of 2025 and is working to gain support from American politicians.
U.S. stock market close | The three major Indexes had mixed performances, with the Dow rising for five consecutive days; Drone Concept stocks surged, with SES jumping 100%; Apple continued to reach new highs, with its Market Cap approaching 4 trillion dol
After the Christmas holiday, trading is quiet. The S&P and Nasdaq briefly turned positive, with Apple reaching a new high and its Market Cap approaching 4 trillion dollars. Tesla fell by 1.8%, NVIDIA's decline narrowed, Broadcom rose over 2%, Drone concept stocks surged, the Chinese concept index rose by 0.9% at one point, Ideal Autos increased by more than 9%, and Kingsoft Cloud rose over 14%.
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Japan Steel has postponed the deadline for the acquisition of U.S. Steel (X.US) Trade.
Japan Steel stated on Thursday that it has extended the final deadline for acquiring United States Steel for $14.9 billion, changing it from the previous third or fourth quarter of 2024 to the first quarter of 2025. The Committee on Foreign Investment in the United States (CFIUS) has reportedly submitted a final assessment report to the White House, indicating that it cannot reach a consensus on the National Security risks involved in Japan Steel's acquisition of United States Steel. The report further suggests that allowing the acquisition or reducing domestic steel production involves National Security risks. It will now be up to President Biden to decide whether to approve this acquisition, and he has 15 days to make a decision.
The acquisition of U.S. Steel by Nippon Steel remains undecided, and a conclusion is expected in March next year? Biden has become the key.
There are numerous obstacles.
Confident in completing the acquisition! Nippon Steel extends the deadline for acquiring United States Steel (X.US).
On Thursday, Nippon Steel of Japan announced that it has extended the deadline for the acquisition of United States Steel (X.US) for $15 billion and expressed confidence that this acquisition will protect and develop the American company.
Japan's Nippon Steel Revises Closing Date For US Steel Acquisition
Express News | Japan Steel: We are confident that this acquisition of United States Steel can protect and promote the development of the United States Steel Industry. The expected completion date of the Trade is the first quarter of 2025.
Express News | Nippon Steel: Revised Estimated Closing Date of Acquisition of U.S. Steel
Express News | The U.S. government departments have not reached a consensus on the United States Steel acquisition case, and the decision on the Trade is handed over to Biden.
Jim Cramer on United States Steel Corporation (X): 'If You Look At US Steel, It's Obviously Very Bad'
Nippon Steel Confirms CFIUS Referred U.S. Steel Decision to President Biden
The acquisition proposal by United States Steel (X.US) has received support from factory officials, and the president of Nippon Steel urged Biden to approve the Trade.
Tadashi Imai, the president of Nippon Steel, stated on Wednesday that the proposal to acquire United States Steel has received support in the regions where United States Steel's factories are located.
Express News | Nippon Steel President: There Is a Considerable Spread of Support for the Deal in Regions Where US Steel Mills Are Located
Express News | The president of Japan Steel Company: This agreement will also strengthen the United States Steel industry and United States National Security.
Express News | Nippon Steel President: Our Deal Will Strengthen US Steel and Protect Jobs of Their Employees
Express News | The President of Japan Steel Corporation believes that if President Biden recognizes the intrinsic value of this trade, it will be possible to obtain his approval for our acquisition of United States Steel.
Express News | Nippon Steel President: Believe We Will Be Able to Get Approval From US President Biden on Our Acquisition of U.S. Steel if He Recognises Intrinsic Value of the Deal
U.S. Steel production bases and city mayors have written to Biden, hoping to approve the acquisition of Nippon Steel.
According to Kyodo News, regarding Japan's Nippon Steel Corporation's plan to acquire United States Steel, 20 local mayors from Pennsylvania in the Eastern United States, where United States Steel's production base is located, and Indiana in the Midwest have published a letter to President Biden requesting approval for the acquisition.