Nippon Steel and the U.S. government have jointly requested an eight-day extension of a litigation pause to finalize negotiations regarding Nippon’s proposed $14.9 billion acquisition of U.S. Steel. The pause, initially granted on April 7, was due to expire on June 5.
The request indicates optimism that a resolution is near, providing a positive signal to investors who have closely monitored the deal since its announcement in December 2023. Both former Presidents Joe Biden and Donald Trump had opposed the deal during the 2024 election campaign, citing national security concerns.
Under the new Trump administration, a fresh 45-day review began in April. However, Trump’s mixed public remarks about the deal, including support for a minority stake or simpler investment, have added ambiguity. The outcome of these negotiations will significantly impact the global steel industry.
Vietnam Steel by Hoa Sen Group
