Nippon Steel Aims to Finalize $15 Billion U.S. Steel Acquisition by Year-End

The acquisition faces opposition from labor unions and political figures, but Nippon Steel remains committed to closing the deal before Donald Trump assumes the presidency.

• Nippon Steel has revised its full-year net profit forecast to 310 billion yen, down from 340 billion yen, due to inventory valuation losses.
• The Committee on Foreign Investment in the United States (CFIUS) has extended its review of the acquisition until the end of December.
• The deal is critical for Nippon Steel's growth, aiming to increase global steel production capacity to 85 million metric tons annually.
• Nippon Steel has made social guarantee and investment pledges to U.S. Steel and the United Steelworkers union to gain approval.
• Former U.S. Secretary of State Mike Pompeo has been hired by Nippon Steel to assist in lobbying efforts for the deal.

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