TOKYO (Reuters) – Japan’s Nippon Steel mentioned on Thursday it has prolonged the closing interval for its $15 billion buy of U.S. Steel, expressing confidence that the acquisition will defend and develop the American firm.
The estimated time limit has been revised to the primary quarter of 2025 from the third or fourth quarter of 2024 beforehand.
A U.S. Committee on Foreign Investment on Monday deferred a choice on whether or not to approve or block the deal to U.S. President Joe Biden, who has 15 days to determine.
Biden and his successor, Donald Trump, have each expressed opposition to the acquisition.
“Nippon Steel hopes the President will use this time to conduct a good, fact-based analysis of the acquisition. We stay assured that the acquisition will defend and develop US Steel,” Nippon Steel mentioned Thursday.
He added that the evaluate strategy of the US Department of Justice’s antitrust division can be underway, with out specifying when it would conclude.
(Reporting by Rocky Swift and Katya Golubkova; Editing by Himani Sarkar and Muralikumar Anantharaman)
