Nippon Steel Presses On With $15 Billion U.S. Steel Takeover Amid Political Headwinds

Despite bipartisan opposition and regulatory scrutiny, Nippon Steel aims to finalize the acquisition by year-end, reinforcing its global market position.

• Nippon Steel's acquisition of U.S. Steel, valued at nearly $15 billion, faces resistance from U.S. politicians, including President Biden and Donald Trump.
• The deal, approved by the European Commission, awaits U.S. antitrust clearance with a revised closing target by the end of 2024.
• Nippon Steel commits to no layoffs and plans to invest $1.4 billion, ensuring U.S. Steel's operations remain domestically centered.
• Financial performance shows a 20.8% drop in Nippon Steel's net profit due to inactive facilities, despite beating market expectations.
• The company plans to raise up to 250 billion yen through loans and bonds to support the financial demands of the acquisition.

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