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Japan’s top steelmaker, Nippon Steel, is sticking to its plan to close a deal by year-end to buy U.S. Steel, which it expects to boost output and profits, the company said on Thursday, despite resistance to the transaction in the US.nearly $15 billion to take over iconic US Steel, drawing resistance from both President Joe Biden and Donald Trump, his likely challenger in the Nov. 5 election, as well as the United Steelworkers union.“U.S.
Takahiro Mori, Nippon Steel’s vice chairman and key negotiator on the takeover, told a briefing that thanks to the deal, the US company will grow, adding jobs and profits. As U.S. Steel shareholders have already approved the deal, other contenders cannot buy the company, he added.
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